MS HB421

Requires school districts to pay local funds owed to charter schools on a quarterly basis instead of annually, with one-fourth of the total due by September 16, December 16, March 16, and June 16 of each fiscal year.

If a school district fails to make a required quarterly payment by the due date, the State Department of Education must reduce that district's Mississippi Adequate Education Program transfer by the amount owed and redirect those funds to the charter school.

Applies to charter schools located within the school district where students reside; charter schools in other districts receive state payments calculated based on the students' home district's ad valorem tax receipts and in-lieu payments.

Maintains existing provisions for state payments to charter schools based on average daily attendance and adequate education program formulas.

Takes effect July 1, 2019.