SB456 Summary

• Allocates Tennessee Valley Authority in-lieu-of-taxes payments received by Morgan County to three school boards (Hartselle, Decatur, and Morgan County) for fiscal years 2012 and 2013 to address economic hardship affecting education.

• Designates first $125,000 for robotics programs: Decatur receives $55,000, Morgan County receives $50,000, and Hartselle receives $20,000.

• Distributes remaining proceeds as follows: 50% for teachers and personnel expenses (excluding administrative costs), 30% for technology in schools, and 20% for instructional and teaching materials and supplies.

• Bases distribution of funds under the 50%, 30%, and 20% allocations on previous year's average daily student enrollment in each school system.

• Allows school systems with fewer than one month's expenditures in reserve to receive and expend proceeds without regard to the allocation percentages until reserves reach one month's worth of expenditures.