Bill > A3038

This bill amends existing law to adjust how school districts calculate payments to charter schools for students residing in the district. Specifically, it introduces a new provision where if a school district's "budget year equalization aid per pupil" (state aid to help districts with varying tax bases) and "pre-budget year general fund tax levy per pupil" (local property taxes for schools) combined are less than the district's "budget year adjustment aid per pupil" (additional state aid for specific needs), the district must pay the charter school a different amount. In this scenario, the payment to the charter school will be 60% of the combined total of equalization aid, adjustment aid, and the inflated general fund tax levy per pupil. This change aims to ensure charter schools receive adequate funding, particularly in districts that rely more heavily on adjustment aid. The bill takes effect immediately and applies to the first school year after its enactment.