Sub. S.B. 56

126th General Assembly

(H. Finance and Appropriations)

Appropriates an additional $150 million in FY 2005 to GRF appropriation item 200-501, Base Cost Funding, in the Department of Education's budget to cover a shortfall in the state school foundation formula obligations for school districts.

Transfers up to $30 million in FY 2005 from the Lottery Profits Education Reserve Fund to the Lottery Profits Education Fund and appropriates the transferred amounts to appropriation item 200-612, Base Cost Funding, in the Department of Education's budget to cover the shortfall.

Provides the Superintendent of Public Instruction authority to transfer various other appropriations, and delays state aid increases and adjustments due to school districts resulting from taxable value adjustments, to cover the shortfall.

Modifies the preschool special education and supervisory units set-aside of GRF appropriation item 200-540, Special Education Enhancements, to allow the Department of Education to apply any unused funds from other set-asides of the appropriation to such units.

S0056-126.doc/bf 03/15/05