WILLIAM DONALD SCHAEFER, Governor                         S.B. 769

This bill would clarify "statewide per capita wealth" for purposes of calculating the wealth
factor component of the community college funding formula. The bill would provide that
only those counties that support a community college or colleges should be included in
determining "statewide per capita wealth", and codify the current practice of the
Maryland Higher Education Commission.

House Bill 269, which was passed by the General Assembly and signed by me on April 26,
1993, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 769.

Sincerely.

William Donald Schaefer

Governor

Senate Bill No. 769

AN ACT concerning

Community Colleges - Funding Formula

FOR the purpose of clarifying the definition of statewide per capita wealth for purposes
of calculating the wealth factor component of the community college funding
formula; making certain technical corrections; and generally relating to the
community college funding formula.

BY repealing and reenacting, with amendments,
Article - Education
Section 16-403(b)(7) and (8)
Annotated Code of Maryland
(1989 Replacement Volume and 1992 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Education

16-403.

(b) (7) (i) A board shall be eligible for a wealth factor component if:

1.       The county share for the previous fiscal year divided by the
total assessed valuation of real property in the supporting county or region is greater than
or equal to the statewide median; and

2.       The per capita wealth of the supporting county or region is
less than 80% of the statewide per capita wealth or the total assessed valuation of real
property in the supporting county or region is less than $1,000,000,000.

(ii) The wealth factor component shall be determined by dividing and
distributing equally among eligible boards 1/2% of the total State operating fund.

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