72-6416. General state aid; determination of entitlement; amount.
72-6416
72-6416. General state aid; determination of entitlement; amount.(a) In each school year, the state board shall determineentitlementof each district to general state aid for theschool year as provided in this section.
(b) The state board shalldetermine the amount of thedistrict's local effort for the school year. If the amount of the district'slocal effort is greater than the amount of state financial aid determined forthe district for the school year, the district shall not be entitled to generalstate aid. If the amount of the district's local effort is less than theamount of state financial aid determined for the district for the school year,the state board shallsubtract the amount of the district's localeffort from the amount of state financial aid.The remainder is the amount ofgeneral state aid thedistrict is entitled to receive for the current school year.
(c) The provisions of this section shall take effect and be in force fromand after July 1, 1992.
History: L. 1992, ch. 280, § 12; May 28.