79-1007.24 Aid stabilization; calculation. - Nebraska Statutes

79-1007.24. Aid stabilization; calculation.(1) For school fiscal year 2008-09, aid stabilization shall be calculatedfor each local system and disbursed in an amount equal to the difference ofthe state aid paid to such local system for school fiscal year 2007-08 pursuantto section 79-1022 minus two and one-half percent of the need calculated forthe school fiscal year for which aid is being calculated and minus the sumof the calculated equalization aid, allocated income tax funds, and net optionfunding for such school fiscal year, except that aid stabilization shall notbe less than zero.(2) For school fiscal year 2009-10, aid stabilization shall be calculatedfor each local system and disbursed in an amount equal to the difference ofthe state aid paid to such local system for school fiscal year 2007-08 pursuantto section 79-1022 minus five percent of the need calculated for the schoolfiscal year for which aid is being calculated and minus the sum of the calculatedequalization aid, allocated income tax funds, and net option funding for suchschool fiscal year, except that aid stabilization shall not be less than zero. If the amount actually paid to a localsystem during school fiscal year 2007-08 was different than the amount certifiedpursuant to section 79-1022 due to a reorganization affecting such local system,the amount that was actually paid to such local system during such schoolfiscal year shall be deemed the amount paid pursuant to section 79-1022. SourceLaws 2008, LB988, § 26; Laws 2009, LB545, § 11.