2006 Nebraska Revised Statutes - § 79-1072.03 — Rural education transition funds; distribution.

Section 79-1072.03
Rural education transition funds; distribution.

Each Class II or Class III school district with a fall membership for school year 2006-07 of six hundred or more students, formed on June 15, 2006, from a Class VI system, shall receive rural education transition funds pursuant to this section for school fiscal years 2006-07, 2007-08, and 2008-09. The amount to be distributed to each such district shall be calculated by first calculating the target amount for each such district. The target amount shall equal eighty percent of the sum of:

(1) Twenty thousand dollars multiplied by the sum of the number, up to nine, of Class I school districts which had one hundred percent of their territory within the Class VI system from which the Class II or Class III school district was formed and which had an average daily membership of less than six hundred students for school year 2005-06 plus one if the Class VI school district from which the Class II or Class III school district was formed had an average daily membership of less than six hundred students for school year 2005-06; plus

(2) One hundred dollars multiplied by the sum of the difference of average daily membership minus fifty students for school year 2005-06 for each Class I school district which had one hundred percent of their territory within the Class VI system from which the Class II or Class III school district was formed and which had an average daily membership of less than six hundred students for school year 2005-06 and for the Class VI school district from which the Class II or Class III school district was formed if the Class VI school district had an average daily membership of less than six hundred students for school year 2005-06. The difference of the average daily membership minus fifty students shall be zero if there were less than fifty students in the average daily membership for the district.

The amount to be distributed to each such district shall equal the target amount for the district unless the total of all target amounts exceeds the amount appropriated by the Legislature. If the total of all target amounts exceeds such appropriated amount, the target amounts shall be reduced proportionately such that the total of all target amounts equals such appropriated amount. The amount to be distributed shall be distributed to the school district as one lump-sum payment on the last business day of December and shall be treated as special grant funds as defined in section 79-1003.

Source:

Laws 2005, LB 126, § 5

~Revised Statutes Supplement, 2006