53A-21-201. Capital Outlay Foundation Program -- Creation -- Definitions.
(1) There is created the Capital Outlay Foundation Program to provide capital outlay
funding to a school district based on a district's local property tax effort and property tax yield per
student compared to a foundation guarantee funding level.
(2) As used in this part:
(a) "Foundation guarantee level per ADM" means a minimum revenue amount per ADM
generated by the highest combined capital levy rate, including the following:
(i) the revenue generated locally from a school district's combined capital levy rate; and
(ii) the revenue allocated to a school district by the State Board of Education in
accordance with Section 53A-21-202.
(b) "Qualifying school district" means a school district with a property tax yield per
ADM less than the foundation guarantee level per ADM.
Enacted by Chapter 236, 2008 General Session
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Last revised: Thursday, May 28, 2009