Section 2502.33. Basic Education Funding for 1996-1997 School Year.--For the 1996-1997 school year, the Commonwealth shall pay to each school district a basic education funding allocation which shall consist of the following:
(1) An amount equal to the basic education funding allocation for the 1995-1996 school year pursuant to section 2502.31.
(2) A base supplement payable to qualifying school districts.
(i) To qualify for the base supplement, a school district's 1997-1998 market value/income aid ratio must be equal to or greater than four thousand ten-thousandths (0.4000).
(ii) The base supplement is calculated for qualifying school districts as follows: multiply the school district's 1997-1998 market value/income aid ratio times its 1996-1997 average daily membership; multiply this product times sixty-six million dollars ($66,000,000); divide the resultant product by the sum of the products of the 1997-1998 market value/income aid ratio times the 1996-1997 average daily membership for all qualifying districts.
(3) A growth supplement payable to qualifying school districts.
(i) To qualify for the growth supplement, a school district's average daily membership must have increased between the 1994-1995 and 1996-1997 school years.
(ii) The growth supplement is calculated for qualifying school districts as follows: if the increase in average daily membership between the 1994-1995 and 1996-1997 school years is equal to or greater than four and five-tenths per centum (4.5%), multiply two hundred dollars ($200) times the increase in average daily membership; if the increase is less than four and five-tenths per centum (4.5%), multiply one hundred dollars ($100) times the increase in average daily membership.
(4) Each school district will be guaranteed a minimum increase to be calculated as follows:
(i) Each school district with a 1997-1998 market value/income aid ratio equal to or greater than seven thousand ten-thousandths (0.7000) will receive additional funding, as necessary, so that the sum of the amounts in clauses (2), (3) and (4) will equal at least four per centum (4%) of the amount in clause (1).
(ii) Each school district with a 1997-1998 market value/income aid ratio less than seven thousand ten-thousandths (0.7000) will receive additional funding, as necessary, so that the sum of the amounts in clauses (2), (3) and (4) will equal at least one per centum (1%) of the amount in clause (1).
(2502.33 added June 25, 1997, P.L.297, No.30)