Martin O'Malley, Governor

Ch. 2

(i) $2,000,000; and

(ii) The county's property tax revenue for the taxable year
derived from personal property that is machinery or equipment used to generate
electricity for sale.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

Article - Education

5-202.

(a) (13) "Target per pupil foundation amount" means:

(i) In fiscal [year 2004, $5,730] YEARS 2008, 2009, AND 2010,
$6,694; and

(ii) In subsequent fiscal years:

1.        The target per pupil foundation amount for the prior
fiscal year increased by the same percentage as the LESSER OF:

A. THE increase in the [implicit price deflator for State
and local government expenditures for the second prior fiscal year];

B. THE CONSUMER PRICE INDEX FOR ALL URBAN

CONSUMERS FOR THE WASHINGTON-BALTIMORE METROPOLITAN AREA, OR
ANY SUCCESSOR INDEX, FOR THE SECOND PREVIOUS FISCAL YEAR; or

C. 5%:OR

2.         If there is no increase in the [implicit price deflator
for State and local government expenditures for the second prior fiscal year] OR IN

the consumer price index for all urban consumers for the
Washington-Baltimore metropolitan area, or any successor index,

FOR THE SECOND PREVIOUS FISCAL YEAR, the target per pupil foundation amount
for the prior fiscal year.

[(e) (1) In fiscal year 2004, the State shall distribute a partnership grant
of $28,186,032 to the Baltimore City Board of School Commissioners.

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