MS HB138

Amends Section 37-151-7 to require the State Board of Education to recalculate the base student cost under the Mississippi Adequate Education Program (MAEP) for fiscal year 2014 and each fiscal year thereafter, instead of every fourth fiscal year.

Changes the base student cost recalculation frequency from every fourth fiscal year to annually beginning in fiscal year 2014, with submissions to the Legislative Budget Office and Governor by August 1 and adjusted estimates by January 2.

Requires the State Board of Education to submit a proposed base student cost for fiscal year 2014 by March 15, 2013, including instructional cost, administrative cost, operation and maintenance, and ancillary support cost components.

Maintains the calculation methodology for base student cost components using financial data from the year preceding the appropriations year, based on districts identified as instructionally successful within specified statistical ranges.

Includes a sunset provision repealing the act on January 1, 2013.