(a) An election within the boundaries of an isolated school district shall be held to establish the millage rate for the isolated school district as required under § 26-80-111.
(b) For purposes of funding calculations that utilize prior-year average daily membership, state funding aid for the first year of operation of an isolated school district shall be based on the:(1) Prior-year first three-quarters average daily membership of the public school now proposed to operate as an isolated school district; or(2) The average daily membership from two (2) years prior if the public school proposed to operate as an isolated school district ceases operations two (2) years before the isolated school district is formed.
(1) Prior-year first three-quarters average daily membership of the public school now proposed to operate as an isolated school district; or
(2) The average daily membership from two (2) years prior if the public school proposed to operate as an isolated school district ceases operations two (2) years before the isolated school district is formed.
(c) If an isolated school district begins operations at the beginning of the following school year after detaching from a local public school district under which the proposed isolated school district currently operates, the prior-year average daily membership of the isolated school shall be subtracted from the prior-year average daily membership of the local public school district under which the isolated school previously operated.
(d) An isolated school district shall be eligible for funding awarded under § 6-20-601 et seq. and any additional funds based on a school district's isolated status.
(e) An isolated school district shall be eligible for any current state funding available for public school districts and open-enrollment public charter schools.