00                      CS FOR SENATE BILL NO. 42(CRA)                                                                    
01 "An Act requiring an annual inflation adjustment of the base student allocation used in                                 
02 the formula for state funding of public education; and providing for an effective date."                                
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 14.17.470 is amended to read:                                                                     
05            Sec. 14.17.470.  Base student allocation.  The base student allocation is                                  
06       $3,940.  However, the department shall annually increase the base student                                     
07       allocation to the extent of increases during the second preceding calendar year in                            
08       the consumer price index for all urban consumers for the Anchorage                                            
09       Metropolitan Area compiled by the Bureau of Labor Statistics, United States                                   
10       Department of Labor.  The index for January 2000 is the reference base index.                                 
11    * Sec. 2.  This Act takes effect July 1, 2002.