MS SB2675

Modifies the pro rata ad valorem funding formula for charter schools by including the charter school's average daily membership for month one of the current year in the denominator when calculating per-pupil local contributions.

Changes the payment deadline for local school districts to transfer ad valorem funds to charter schools from January 16 to March 15 of the fiscal year.

Requires the State Department of Education to withhold and redirect funds from a school district's adequate education program transfer if the district fails to pay required charter school amounts by the March 15 deadline.

Applies the modified funding formula to both students attending charter schools in their resident district and students attending charter schools outside their resident district.

Takes effect July 1, 2022.