September 27, 2007, Introduced by Rep. Young and referred to the Committee on Appropriations.
A bill to amend 1979 PA 94, entitled
"The state school aid act of 1979,"
(MCL 388.1601 to 388.1772) by adding section 27.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 27. (1) In addition to all other appropriations under
this act, there is appropriated from the general fund each fiscal
year the amount necessary to make payments to districts under this
section.
(2) From the appropriation in subsection (1), there is
allocated to each district that levies debt millage an amount per
membership pupil to guarantee the district will receive a combined
state-local yield per membership pupil for each mill of debt
millage levied by the district that is at least equal to the state
average debt millage yield. The net allocation for each district
shall be an amount per membership pupil computed by subtracting
from that combined state-local yield the product of the district's
actual taxable value per membership pupil and the number of mills
of debt millage levied by the district. All calculations under this
section shall be made by the department using the number of
membership pupils for the school year ending in the immediately
preceding state fiscal year, the number of mills of debt millage
levied by the district in the calendar year ending in the
immediately preceding state fiscal year, and the taxable value of
the district for the calendar year ending in the immediately
preceding state fiscal year.
(3) To receive funding under this section, a district shall
provide to the department in the form and manner prescribed by the
department all information the department considers necessary to
verify the district's eligibility for payments under this section
and to calculate payments under this section.
(4) As used in this section:
(a) "Debt millage" means millage levied to repay bonds issued
under section 442(1)(b) or 1351a of the revised school code, MCL
380.442 and 380.1351a.
(b) "State average debt millage yield" means the average
combined state-local yield per membership pupil for each mill of
debt millage levied among all local school districts in this state
for the calendar year ending in the immediately preceding state
fiscal year, excluding the highest yield and the lowest yield, as
calculated by the department of treasury and reported to the
department.
(c) "Taxable value per membership pupil" means that term as
defined in section 20.