House Bill 446 Summary

• Replaces sections 163.011, 163.031, and 163.037 of Missouri Revised Statutes relating to elementary and secondary education state funding formulas, effective July 1, 2012.

• Adds new definitions including "aggregate proration factor," "modified formula payment," "modified hold harmless payment," and "proration factor" to the state education funding terminology.

• Establishes minimum appropriation requirements for fiscal years 2013-2016, requiring the General Assembly to appropriate amounts that produce aggregate proration factors of at least 1.0 by fiscal year 2016 to fully fund school district entitlements.

• Creates a new subsection 8 requiring districts to receive the greater of their modified formula payment or modified hold harmless payment when formula appropriations are insufficient to fully fund entitlements.

• Includes an emergency clause for the repeal of section 163.037 and enactment of section 1, with effectiveness upon passage and approval; main provisions effective July 1, 2012.