{"data":{"id":"us-ky/krs-157.442","jurisdiction":"us-ky","citation":"KRS 157.442","heading":"Adjustment in district allotment from fund to support education excellence","body":"in Kentucky relating to loss of state funds resulting from property assessment\namendment.\n(1) After the Department of Revenue submits the certified property assessment  data to\nthe chief state school officer as required pursuant to KRS 160.470(4), a local board\nof education may request to the chief state school officer an adjustment in funding\nif:\n(a) It is determined that the total assessed valuation of real property or  personal\nproperty as defined in KRS 132.010 for the school district is amended; and\n(b) The impact of that amendment is equal to or greater than one percent (1%) of\nthe school district's net general fund to support education excellence in\nKentucky allotme nt as of March 1 of the same fiscal year of the impacted\nproperty assessment.\n(2) Any adjustments in the funding formula under this section shall be:\n(a) No more than an amount equal to the net loss of state funds provided through\nthe program to support education excellence in Kentucky; and\n(b) Subject to available funds under the program to support education excellence\nin Kentucky.\n(3) Documentation of the amendment shall be provided by the school district.","path":["KRS Chapter 157"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58173","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:02Z","sha256":"835eec08c965507f79729282d5ab75f40565a6aa650bdba4ba25ef219dd75a49","source_id":"us-ky","stale":false,"prev":"us-ky/krs-157.440","next":"us-ky/krs-157.450"},"notice":"GroundRules: Original legal text. Not legal advice."}