Utah Code 53F-2-404 v2. School LAND Trust Program distribution of funds
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(1)
Terms Used In Utah Code 53F-2-404 v2
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Land: includes :(18)(a) land;(18)(b) a tenement;(18)(c) a hereditament;(18)(d) a water right;(18)(e) a possessory right; and(18)(f) a claim. See Utah Code 68-3-12.5
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) By appropriation the Legislature shall fund the School LAND Trust Program, established in Section 53G-7-1206, on or before July 31 of each fiscal year:(1)(a)(i) from the Trust Distribution Account, created in Section 53F-9-201; and(1)(a)(ii) except as provided in Subsection (1)(b), in the total amount of the quarterly deposits made to the Trust Distribution Account for the School LAND Trust Program during the prior fiscal year.(1)(b) Independently from the appropriation for the School LAND Trust Program described in Subsection (1)(a), the Legislature shall make an annual appropriation to the state board from the Trust Distribution Account, created in Section 53F-9-201, for the administration of the School LAND Trust Program.(1)(c) Any unused balance remaining from an amount appropriated under Subsection (1)(c) shall be deposited into the Trust Distribution Account.
(2)
(2)(a) The state board shall allocate the money referred to in Subsection (1)(a) annually as follows:
(2)(a)(i) the Utah Schools for the Deaf and the Blind shall receive funding equal to the product of:
(2)(a)(i)(A) enrollment on October 1 in the prior year at the Utah Schools for the Deaf and the Blind divided by enrollment on October 1 in the prior year in public schools statewide; and
(2)(a)(i)(B) the total amount available for distribution under Subsection (1)(a);
(2)(a)(ii) charter schools shall receive funding equal to the product of:
(2)(a)(ii)(A) charter school enrollment on October 1 in the prior year, divided by enrollment on October 1 in the prior year in public schools statewide; and
(2)(a)(ii)(B) the total amount available for distribution under Subsection (1)(a); and
(2)(a)(iii) of the funds available for distribution under Subsection (1)(a) after the allocation of funds for the Utah Schools for the Deaf and the Blind and charter schools:
(2)(a)(iii)(A) school districts shall receive 10% of the funds on an equal basis; and
(2)(a)(iii)(B) the remaining 90% of the funds shall be distributed to school districts on a per student basis.
(2)(b)
(2)(b)(i) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the state board shall make rules specifying a formula to distribute the amount allocated under Subsection (2)(a)(ii) to charter schools.
(2)(b)(ii) In making rules under Subsection (2)(b)(i), the state board shall:
(2)(b)(ii)(A) consult with the State Charter School Board; and
(2)(b)(ii)(B) ensure that the rules include a provision that allows a charter school in the charter school’s first year of operations to receive funding based on projected enrollment, to be adjusted in future years based on actual enrollment.
(2)(c) A school district shall distribute its allocation under Subsection (2)(a)(iii) to each school within the school district on an equal per student basis.
(2)(d) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the state board may make rules regarding the time and manner in which the student count shall be made for allocation of the money under Subsection (2)(a)(iii).