MS SB2553

Modifies the formula for calculating pro rata ad valorem funds paid by local school districts to charter schools to include the charter school's average daily membership for month one of the current year reflecting students who reside in the school district.

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

Requires the State Department of Education to reduce a local school district's Mississippi Adequate Education Program transfer by the amount owed to a charter school and redirect that amount to the charter school if payment is not made by the March 15 deadline.

Maintains existing provisions for state payments to charter schools for adequate education program support, categorical aid programs, and transportation funding.

Takes effect July 1, 2023.