MO HB246

Repeals and replaces section 163.011 of Missouri law regarding school funding definitions and formulas.

Changes the "dollar-value modifier" definition effective fiscal year 2012 to set the modifier at a fixed value of 1.0 for all districts instead of using a formula based on regional wage ratios.

Maintains existing definitions for school funding components including average daily attendance, adjusted operating levy, current operating expenditures, local effort, membership, performance districts, and weighted average daily attendance.

Declares the act an emergency measure effective July 1, 2011, or upon passage and approval, whichever is later, to synchronize requirements with the school calendar and state fiscal year.