NY S68008

Reduces General Fund appropriation for public school general support from $10,920,666,000 to $10,620,666,000 for the 2010-11 school year

Implements a gap elimination adjustment requiring the commissioner to reduce payments to each school district based on a formula using the district's percentage reduction, tax effort ratio, and combined wealth ratio, with adjustments for high-need districts and those with low administrative efficiency ratios

Allocates $607,592,000 from the Federal Education Jobs Fund to school districts eligible for the net gap elimination adjustment, with 70 percent of the apportionment available prior to April 1, 2011

Increases State Lottery Fund appropriation for public school general support from $562,000,000 to $862,000,000 for the 2010-11 school year

Allocates $1,382,000 from the State Fiscal Stabilization Fund for the math and science high school program, distributed equally among entities that received program funding for the 2007-08 school year and participate in the program