(HT) Funding Formula BAD HB 59 8-12-13-a

Type IV (Payment in Lieu)

• New payment process this year

• Law defines the parent payment as $250 per child for a full year

• Budget bill allocates up to $5M to fund this in FY 14, and $2.5M in FY 15 • Districts are required to pay $250 even if there is insufficient funding to cover the cost • In past years, the amount paid the parent was based upon the available money, and the payment amount was reduced