SB-0961 Summary

• Changes the fiscal year appropriation from 2012 to 2013 for public schools and education-related state purposes under the State School Aid Act of 1979.

• Reduces appropriations from the state school aid fund from $10,967,333,600 to $100.00 and from the general fund from $118,642,400 to $100.00 for fiscal year ending September 30, 2013.

• Maintains the 11-installment payment schedule for distributing school aid to districts and intermediate districts on specified dates (October through August).

• Preserves authority for the superintendent to authorize advance releases of funds to districts experiencing temporary, nonrecurring financial needs, with a maximum 30-day advance.

• Establishes total state spending on school aid from state sources for fiscal year 2012-2013 at $100.00 in compliance with constitutional requirements.