Provides that, for the 2006-07 school year, an amount equal to three hundred dollars per full-time equivalent student in all school districts shall be deposited in the student achievement fund.

Provides that, for the 2007-08 school year, an amount equal to three hundred seventy-five dollars per full-time equivalent student in all school districts shall be deposited in the student achievement fund.

Provides that, for the 2008-09 school year, an amount equal to four hundred fifty dollars per full-time equivalent student in all school districts shall be deposited in the student achievement fund.

Provides that, for each subsequent school year, the amount deposited per full-time equivalent student shall be adjusted for inflation.