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