SJ20:

Constitutional amendment; K-12 funding (first reference).

Bill Summary:

Constitutional amendment (first reference);
K-12 funding. Provides that for any year in which there is a
surplus, the budget shall include an appropriation of five percent
of such surplus for the operational costs of local school divisions.
The resolution provides for an equivalent decrease in the amount
of operational costs funded by the Lottery Proceeds Fund and an equivalent
increase in the amount of funds in the Fund restricted exclusively
for local school divisions' capital construction and renovation costs.
If the restricted amount is equal to or greater than the amount in
the Fund, the increases and decreases are no longer required under
the resolution.