HB 165: "An Act requiring annual adjustment of the instructional unit value in the foundation formula; and providing for an effective date."
00HOUSE BILL NO. 165 01 "An Act requiring annual adjustment of the instructional unit value in the 02 foundation formula; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 14.17.056 is amended by adding a new subsection to read: 05 (b) The department shall annually adjust the instructional unit value established 06 under (a) of this section to reflect changes in the Consumer Price Index for all urban 07 consumers for all items for the Anchorage metropolitan area compiled by the Bureau 08 of Labor Statistics, United States Department of Labor, for the second half of the 09 preceding calendar year. The semiannual index for the second half of 1992 is the 10 reference base index. The department shall round the amount adjusted under this 11 subsection to the nearest dollar. By February 28th of each year the revised 12 instructional unit value shall be provided to the legislature and each school board, and 13 made available to the public. 14 * Sec. 2. Notwithstanding the instructional unit adjustment required under AS 14.17.056(b),
01 as enacted by sec. 1 of this Act, the Department of Education shall adjust the instructional unit 02 value beginning with fiscal year 1995. 03 * Sec. 3. This Act takes effect January 1, 1993.