J. MILLARD TAWES, Governor                          39

of January 1 of the first completed calendar year preceding the
school year for which the calculation of State aid is to be made,
plus 50% of new property assessed between January 1 and July 31
of such completed calendar year; and real property as defined herein
shall include land, improvements to lands, land and non-operating
property of railroads, land and non-operating property of public
utilities, and public utility operating property.

If for any county or Baltimore City, the State Department of
Assessments and taxation shall estimate that real property is
assessed at less than 50% or at more than 58%, the assessed valua-
tion of those categories which are estimated to be under- or over-
assessed, on the basis of surveys made under the provisions of
Section 232(14) of Article 81 of this Code, shall be adjusted (up
to 50%, if below that ratio, or down to 58%, if above that ratio
and not above 60%); and such adjustments shall apply only to
those categories of property which are locally assessed; and any
estimated assessed valuation in excess of 60% shall be included for
the purpose of calculating State aid.

(6)  "Certificate" includes in Baltimore City an equivalent status
as determined by the State Department of Education.

(7)   "Net taxable ordinary income" shall be as certified by the
Comptroller of the Treasury for the second completed calendar year
preceding the school year for which the calculation is being made.

(8)  "Other current expenses" means all expenditures for public
education for pupils defined in paragraph 4 above, except salaries
of professional personnel, costs of pupil transportation, debt service,
capital outlay, or any other reimbursable costs or grants in aid that
may be excluded by the State Department of Education.

(b) For the school year 1964-65 and thereafter, the board of
education of each county and the Mayor and City Council of Balti-
more shall be entitled to, and shall be paid, each year in the manner
and subject to the limitations hereinafter provided, an amount to be
known as "State Share of Current Expenses" which shall be cal-
culated as follows for each county and Baltimore City.

(1)  Current Expense Cost to be Shared. The State shall share in
an adjusted expenditure for current expenses of $340 multiplied by
the number of pupils enrolled in ON September 30 of each year.

(2)  Adjustment for increased enrollment. An amount shall be
added to the product of (1) equal to $30.00 multiplied by an increase
in enrollment above September 30 of the preceding year.

(3)  Adjustment for prescribed salaries and staffing level. The
total amount of prescribed salaries for each subdivision, as required
in Sections 106, 148, and 159 shall be calculated for all employed
professional staff members allowed under Section 159 (c). Any posi-
tive difference between this amount and the product of 4.5 staff mem-
bers per 1,000 pupils enrolled, multiplied by $6,200, shall be added to
the product of current expense cost calculated under paragraph (1)
above for that subdivision and any negative difference shall be sub-
tracted.

In calculating the total amount of required prescribed salaries for
subdivisions which employ more professional staff members than the