Enrolled HB 158: Relating to the public school account and renaming the public school account as the public education fund; and providing for an effective date.
00Enrolled HB 158 01 Relating to the public school account and renaming the public school account as the public 02 education fund; and providing for an effective date. 03 _______________ 04 * Section 1. AS 14.17.300 is amended to read: 05 Sec. 14.17.300. Public education fund [SCHOOL ACCOUNT]. (a) The 06 public education fund [SCHOOL ACCOUNT] is established. The fund 07 [ACCOUNT] consists of appropriations for 08 (1) distribution to school districts, to the state boarding school, and for 09 centralized correspondence study under this chapter; and 10 (2) transportation of pupils under AS 14.09.010. 11 (b) Money appropriated to the fund may be expended without further 12 appropriation. Money appropriated to the fund does not lapse. The money in the 13 fund [ACCOUNT] may be expended [USED] only in aid of public schools [, 14 INCLUDING COMMUNITY SCHOOL PROGRAMS,] and for centralized
01 correspondence study programs under this chapter and for transportation of pupils 02 under AS 14.09.010. Interest earned on money held in the fund before 03 expenditure may be appropriated to the fund by the legislature. 04 * Sec. 2. AS 14.17.400(b) is amended to read: 05 (b) If the amount appropriated to [IN] the public education fund for 06 purposes of this chapter [SCHOOL ACCOUNT] is insufficient to meet the amounts 07 authorized under (a) of this section for a fiscal year, the department shall reduce pro 08 rata each district's basic need by the necessary percentage as determined by the 09 department. If the basic need of each district is reduced under this subsection, the 10 department shall also reduce state funding for centralized correspondence study and 11 the state boarding school by the same percentage. 12 * Sec. 3. AS 14.17.430 is amended to read: 13 Sec. 14.17.430. State funding for correspondence study. Except as 14 provided in AS 14.17.400(b), funding for the state centralized correspondence study 15 program or a district correspondence program, including a district that offers a 16 statewide correspondence study program, includes an allocation from the public 17 education fund [SCHOOL ACCOUNT] in an amount calculated by multiplying the 18 ADM of the correspondence program by 80 percent. 19 * Sec. 4. AS 14.17.440(a) is amended to read: 20 (a) Except as provided in AS 14.17.400(b), funding for state boarding schools 21 established under AS 14.16.010 includes an allocation from the public education 22 fund [SCHOOL ACCOUNT] in an amount calculated by 23 (1) determining the ADM of state boarding schools by applying the 24 school size factor to the student count as described in AS 14.17.450; 25 (2) multiplying the number obtained under (1) of this subsection by the 26 special needs factor in AS 14.17.420(a)(1) and multiplying that product by the base 27 student allocation; and 28 (3) multiplying the product determined under (2) of this subsection by 29 the district cost factor that is applicable to calculation of the state aid for the adjacent 30 school district under AS 14.17.460. 31 * Sec. 5. AS 14.17.610(b) is amended to read:
01 (b) Distribution of state aid under (a) of this section shall be made as required 02 under AS 14.17.410. If a district receives more state aid than it is entitled to receive 03 under this chapter, the district shall immediately remit the amount of overpayment to 04 the commissioner, to be returned to the public education fund [SCHOOL 05 ACCOUNT]. The department may make adjustments to a district's state aid to correct 06 underpayments made in previous fiscal years. 07 * Sec. 6. AS 14.17.900(b) is amended to read: 08 (b) Money to carry out the provisions of this chapter may be appropriated 09 annually by the legislature into the public education fund [SCHOOL ACCOUNT]. If 10 the amount appropriated to the fund for the purposes of this chapter [IN THE 11 ACCOUNT] is insufficient to meet the allocations authorized under AS 14.17.400 - 12 14.17.470 for a fiscal year, state aid shall be reduced according to AS 14.17.400(b). 13 * Sec. 7. This Act takes effect immediately under AS 01.10.070(c).