Synopsis As Introduced Amends the State Aid Continuing Appropriation Law. Makes the Law applicable to fiscal year 2004 and each fiscal year thereafter. Provides that if the General Assembly fails to make Common School Fund appropriations to the State Board of Education in fiscal year 2004 and in each fiscal year thereafter sufficient to fund the general State aid, supplemental general State aid, and supplementary grants in aid provisions of the State aid formula, the Law shall constitute an irrevocable and continuing appropriation from the Common School Fund of all amounts necessary for those purposes. Removes a provision that provides for the Law's repeal on June 30, 2003. Effective immediately.
Senate Floor Amendment No. 1 Provides that the continuing appropriation language applies beginning in fiscal year 2003 (instead of fiscal year 2004).
Fiscal Note (S-AM1) (State Board of Education)
The preliminary data used during the final budget discussions is very close to the final data received in July and the continuing appropriation is therefore a small percentage of the GSA appropriation. As an example, the FY03 difference is less than 1% off ($21.8 M of the over $3 B GSA appropriation).