Bill > S388

This bill modifies the Chapter 70 education funding law by updating two key definitions related to school district funding: "Foundation allotments" and "Foundation inflation index". Specifically, the bill adjusts how per-pupil rates are calculated for different educational cost categories, ensuring that rates are not less than the previous year's rates adjusted by an inflation index. The foundation inflation index is defined as the ratio of the implicit price deflator for state and local government consumption expenditures between the current and a base year (fiscal year 2019), with a cap that prevents the index from increasing more than 4.5% in any given year. These changes are designed to provide a more flexible and responsive mechanism for adjusting educational funding to account for changes in costs, while also preventing dramatic year-to-year fluctuations in per-pupil funding rates. The modifications aim to help school districts better manage their budgets by providing a predictable and inflation-adjusted funding framework.

Education

https://malegislature.gov/Bills/194/S388