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PARRIS N. GLENDENING, Governor
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Ch, 288
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1. If the county board meets the local match requirement
established under subsection (f)(2) of this section in fiscal year 2001 and meets the
local match requirement for fiscal year 2002, multiply the teacher salary base for the
county board by 0.02;
2. If the county board does not meet the local match
requirement established under subsection (f)(2) of this section in fiscal year 2001 and
meets the local match requirement in fiscal year 2002, multiply the teacher salary
base for the county board by 0.01; and
3. If the county board meets the local match requirement
established under subsection (f)(2) of this section in fiscal year 2001 and does not
meet the local match requirement in fiscal year 2002, multiply the teacher salary
base for the county board by 0.01; [and]
(iii) For fiscal year 2003, the county board shall receive an amount
that is equal to 75% OF THE AMOUNT OF the percentage component received by the
county board in fiscal year 2002;
(IV) FOR FISCAL YEAR 2004, THE COUNTY BOARD SHALL RECEIVE
AN AMOUNT THAT IS EQUAL TO 50% OF THE AMOUNT OF THE PERCENTAGE
COMPONENT RECEIVED BY THE COUNTY BOARD IN FISCAL YEAR 2002; AND
(V) FOR FISCAL YEAR 2005, THE COUNTY BOARD SHALL RECEIVE
AN AMOUNT THAT IS EQUAL TO 25% OF THE AMOUNT OF THE PERCENTAGE
COMPONENT RECEIVED BY THE COUNTY BOARD IN FISCAL YEAR 2002.
(3) (i) For fiscal years 2001 and 2002, the wealth adjusted component
shall be calculated as follows:
1. A. Multiply the percentage component for the county
board by 2; and
B. Multiply the product calculated in item 1 of this item for
that fiscal year by the State share for the county board; and
2. A. If the product calculated in item (i) of this paragraph
is greater than the percentage component for the county board, the wealth adjusted
component shall be the amount of the difference.
B. If the product calculated in item (i) of this paragraph is
less than the percentage component for the county board, the wealth adjusted
component shall be zero.
(ii) For fiscal year 2003, the county board shall receive an amount
that is equal to 75% OF THE AMOUNT OF the wealth adjusted component received by
the county board in fiscal year 2002.
(III) FOR FISCAL YEAR 2004, THE COUNTY BOARD SHALL RECEIVE
AN AMOUNT THAT IS EQUAL TO 50% OF THE AMOUNT OF THE WEALTH ADJUSTED
COMPONENT RECEIVED BY THE COUNTY BOARD IN FISCAL YEAR 2002.
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- 2207 -
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