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1230
LAWS OF MARYLAND
Ch. 423
Public Education — Funding
FOR the purpose of increasing the State share of basic
current expenses for education; increasing the local
share necessary for a county to be eligible for the
State share; and providing that this Act is contingent
upon—a certain appropriation in the Budget Bill
redefining "adjusted assessed valuation of real
property" in the school and library State aid formulas
for the calculation of current basic expense for each
county and Baltimore City; providing for the effect of
this Act in Fiscal Year 1979-1980; and providing that
this Act is contingent upon the passage of another
bill.
BY repealing and reenacting, with amendments,
Article — Education
Section 5-202 (a) (2) , (b)(2) and (3) , and 23-401(b)
Annotated Code of Maryland
(1978 Volume and 1978 Supplement)
SECTION 1- BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:
Article — Education
5-202.
(a) (2) "Adjusted assessed valuation of real property"
means the most recent estimate made by the State Department
of Assessments and Taxation before the annual State budget
is submitted to the General Assembly, of the assessed value
of real property for State purposes as of July 1 of the
first completed fiscal year before the school year for which
the calculation of State aid is made under this section. If
the State Department of Assessments and Taxation estimates
that real property in any county is assessed at other . than
[55] 50 percent of market value, the assessed valuation of
those categories of real property that are estimated to be
assessed at other than [55] 50 percent of market value, on
the basis of surveys made under Article 81, § 232(14) of the
Code, that are reported on or before November 1 of the first
calendar year before the school year for which the
calculation is made, shall be adjusted to [55] 50 percent.
This adjustment does not apply to public utility operating
property.
(b)(2) The State shall share in an expenditure for
basic current expenses of [$690] $782 $784 multiplied by the
number of students enrolled.
(3) To be eligible to receive the State share of
basic current expenses, the county governing body shall levy
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