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§ 25-2502.42. Reimbursement of additional expenses related to basic education

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. EducationEffective: December 23, 2003

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 24 P.S. Education
Chapter 1. Public School Code of 1949 (Refs & Annos)
Article XXV. Reimbursements by Commonwealth and Between School Districts (Refs & Annos)
Subarticle (b). Instruction
Effective: December 23, 2003
24 P.S. § 25-2502.42
§ 25-2502.42. Reimbursement of additional expenses related to basic education
Currentness
During the 2003-2004 fiscal year, the Commonwealth shall pay to each school district a special supplement calculated as follows:
(1) Multiply the net amount of basic education funding for the 2002-2003 school year pursuant to sections 2502.13 and 2502.411 that would have been paid in August 2003 and in October 2003 times an interest rate as determined by the Secretary of Education. The interest rate established shall be such that the funds allocated under this section shall not exceed the funds appropriated for this purpose.
(2) Multiply the products from paragraph (1) by the number of days respectively that the August and October payments were late.
(3) Divide the products from paragraph (2) by three hundred sixty-five (365) days.
(4) Add the amount calculated in paragraph (3) to determine the total special supplement.

Credits

1949, March 10, P.L. 30, No. 14, art. XXV, § 2502.42, added 2003, Dec. 23, P.L. 304, No. 48, § 31, imd. effective.

Footnotes

1
24 P.S. §§ 25-2502.13, 25-2502.41.
24 P.S. § 25-2502.42, PA ST 24 P.S. § 25-2502.42
Current through 2023 Regular Session Act 7. Some statute sections may be more current, see credits for details.
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