The department of education shall annually compute capacity aid funds to school districts, as follows:
(A) For each school district, multiply the district's three-year average valuation by 0.001;
(B) Determine the median amount of all of the amounts calculated under division (A) of this section;
(C) Calculate each school district's capacity ratio, which equals the greater of zero or the amount calculated as follows: (The amount determined under division (B) of this section / the amount calculated for the district under division (A) of this section) -1If the result of a calculation for a school district under division (C) of this section is greater than 2.5, the district's capacity ratio shall be 2.5.
(D) Calculate the capacity aid per pupil amount, which equals the following quotient:
(The amount determined under division (B) of this section) / (the average of the formula ADMs of all of the districts for which the amount calculated under division (A) of this section is less than the amount determined under division (B) of this section)
(E) Calculate each school district's capacity aid, which equals the following product:
The capacity aid per pupil amount calculated under division (D) of this section X the district's formula ADM X 4.0X the district's capacity ratio calculated under division (C) of this section
Amended by 132nd General Assembly File No. TBD, HB 49, §101.01, eff. 9/29/2017.
Amended by 131st General Assembly File No. TBD, HB 64, §101.01, eff. 9/29/2015.
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