|Date Requested:January 13, 2011
Time Requested:06:38 PM
| FUND(S) |
Sources of Revenue
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||56,818,231||56,818,231|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
3. Explanation of above estimates (including long-range effect):
The purpose of this bill is to reduce the local share taken into consideration for the state aid funding formula by 50% of the increase in local tax collections over the most recent five-year period.
The estimated cost of this proposal to the State through the Public School Support Program for the 2011-12 year is $56,818,231.