(a) Annually, not later than December 1, the Commissioner of Taxes, after consultation with the Secretary of Education, the Secretary of Administration, and the Joint Fiscal Office, shall calculate and recommend the statewide education property tax rate pursuant to subsection 5402(a) of this chapter and the supplemental district spending yield for the following fiscal year. In making these calculations, the Commissioner shall assume the statutory reserves are maintained at five percent pursuant to 16 V.S.A. § 4026, the amounts in the Supplemental District Spending Reserve are unavailable for any purpose other than that specified in 16 V.S.A. § 4032(b), and the statewide education property tax rate is divided by the statewide adjustment.
(b) For each fiscal year, the supplemental district spending yield shall be the same as in the prior fiscal year unless set otherwise by the General Assembly.
(c) Annually, on or before December 1, the Joint Fiscal Office shall prepare and publish an official, annotated copy of the Education Fund Outlook. The Emergency Board shall review the Outlook at its meetings. As used in this section, “Education Fund Outlook” means the projected revenues and expenses associated with the Education Fund for the following fiscal year, including projections of different categories of educational expenses and costs.
(d) Along with the recommendations made under this section, the Commissioner shall include:
(1) the base amount as defined in 16 V.S.A. § 4001(16);
(2) for each school district, the estimated long-term membership, weighted long-term membership, and aggregate adjusted equalized education property tax grand list of its municipal members;
(3) for each school district, the estimated aggregate adjusted equalized education property tax grand list of its municipal members per long-term membership;
(4) the estimated school district with the lowest taxing capacity; and
(5) the range of per pupil supplemental district spending between all districts in the State for the previous year.