MS SB2364

Brings forward Section 37-151-7 of the Mississippi Code of 1972 for possible amendment regarding the Mississippi Adequate Education Program (MAEP) annual allocation determination to school districts.

Establishes the MAEP funding calculation methodology based on average daily attendance (ADA), base student cost, and adjustments for at-risk pupils, plus add-on programs for transportation, special education, gifted education, and vocational training.

Requires school districts to contribute local funding through a 28-mill property tax rate (or 27% of basic adequate education program cost, whichever is less) with the state providing the remaining required funding.

Creates the Interim School District Capital Expenditure Fund to distribute state funds to school districts for capital improvements, debt service, and technology needs until the adequate education program is fully funded.

Provides charter schools with state MAEP payments equal to the per-student state share of the district in which they are located, after deducting the pro rata local contribution.