Md. Code Ann., Educ. § 5-214
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2022
As of January 1, 2019
(a) (1) The State Board may accept for the State:
(i) Any appropriation of money for educational purposes and subsidized or free feeding programs for the public schools that is made out of the federal treasury by an act of Congress; and
(ii) Any additional funds directed to the State Board by an act of Congress or federal regulation.
(2) The State Board is the educational authority for the expenditure and administration of these funds.
(b) (1) All of these funds received by the State shall be received into the State Treasury.
(2) On warrant of the State Comptroller, the State Treasurer may:
(i) Receive and provide for the proper custody of these funds; and
(ii) Make disbursements on the order of the State Board according to the procedure established for the State Treasurer.
(a) (1) In this section the following terms have the meanings indicated.
(2) “Additional education appropriation” means the difference between a county’s education appropriation for the prior fiscal year and the county’s local share of the foundation program calculated under § 5–201 of this subtitle.
(3) “Additional education effort” means a county’s additional education appropriation divided by the county’s wealth, rounded to seven decimal places.
(4) “Guaranteed tax base program per pupil amount” means the lesser of:
(i) 20% of the annual per pupil foundation amount; and
(ii) The product of a county’s additional education effort and the difference between guaranteed wealth per pupil and local wealth per pupil.
(5) “Guaranteed wealth per pupil” means 80% of the statewide wealth per pupil.
(b) For fiscal year 2005 and each fiscal year thereafter, the State shall distribute guaranteed tax base grants to county boards as provided in this section.
(c) A county board is eligible to receive a guaranteed tax base grant if the county’s:
(1) Additional education effort is greater than zero; and
(2) Local wealth per pupil is less than the guaranteed wealth per pupil.
(d) The amount of the guaranteed tax base grant shall be equal to the product of the county’s guaranteed tax base program per pupil amount and the county’s enrollment count.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.