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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 50-20-22 SO AS TO PROVIDE THAT BEGINNING WITH THE YEAR 2007, STATE FUNDS DISTRIBUTED TO A SCHOOL DISTRICT UNDER THE EDUCATION FINANCE ACT MUST BE DISTRIBUTED SOLELY ON A WEIGHTED PUPIL UNIT BASIS WITHOUT REGARD TO A DISTRICT'S INDEX OF TAXPAYING ABILITY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 20, Title 59 of the 1976 Code is amended by adding:
"Section 59-20-22. Beginning with the year 2007, state funds distributed to a school district under this chapter must be distributed solely on a weighted pupil unit basis without regard to a district's index of taxpaying ability."
SECTION 2. This act takes effect upon approval by the Governor.
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