SB 2415 Summary

• Brings forward 33 sections of Mississippi Code Title 37-151 relating to the Mississippi Adequate Education Program (MAEP) for possible legislative amendment.

• Establishes the framework for calculating adequate education program funding based on base student cost, average daily attendance, and adjustments for at-risk students and add-on programs including transportation, special education, vocational education, and gifted programs.

• Requires the State Board of Education to recalculate base student cost every four fiscal years (starting 2011) using financial data from successful school districts, with interim-year increases based on 40% of prior year base cost plus inflation adjustments.

• Mandates local school districts contribute funding through 28 mills of property tax or 27% of program cost (whichever is less), with the state covering remaining adequate education program costs.

• Specifies payment procedures including monthly electronic fund transfers to school districts on the last working day of each month (December 15th in December), and establishes minimum teacher salary requirements with restrictions on reducing local supplements.