2812-S AMS SCHO MOOB 003

SHB 2812 - S AMD 299

   By    Senators Schoesler and Morton

ADOPTED 3/3/2006

   On page 1, after line 3, insert the following:

"Sec. 1. RCW 28A.500.030 and 2005 c 518 s 914 are each amended to read as follows:

   Allocation of state matching funds to eligible districts for local effort assistance shall be determined as follows:

   (1) Funds raised by the district through maintenance and operation levies shall be matched with state funds using the following ratio of state funds to levy funds:

   (a) The difference between the district's twelve percent levy rate and the statewide average twelve percent levy rate; to

   (b) The statewide average twelve percent levy rate.

   (2) The maximum amount of state matching funds for districts eligible for local effort assistance shall be the district's twelve percent levy amount, multiplied by the following percentage:

   (a) The difference between the district's twelve percent levy rate and the statewide average twelve percent levy rate; divided by

   (b) The district's twelve percent levy rate.

   (3) Calendar year 2003 allocations and maximum eligibility under this chapter shall be multiplied by 0.99.

   (4) From January 1, 2004, to December 31, 2005, allocations and maximum eligibility under this chapter shall be multiplied by 0.937.

   (5) From January 1, 2006, to ((June 30, 2007)) December 31, 2006, allocations and maximum eligibility under this chapter shall be multiplied by 0.9563. Beginning with calendar year 2007, allocations and maximum elgibility under this chapter shall be fully funded at one hundered percent and shall not be reduced."

   Renumber the sections consecutively and correct any internal references accordingly.

SHB 2812 - S AMD 299

   By    Senators Schoesler and Morton

ADOPTED 3/3/2006

   On page 1, line 1 of the title, after "RCW" insert "28A.500.030 and"

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EFFECT: Beginning January 1, 2007, state levy equalization is required to be fully funded at 100 percent and can not be reduced.