DIGEST OF INTRODUCED BILL
Weighted student school funding formula. Requires school corporations to establish academic growth goals for each student. Establishes a method of internal accounting for school corporations requiring school corporations to allocate 95% of the funds received by the school corporation (exclusive of money used for debt service and capital construction) to each elementary school and secondary school operated by the school corporation. Specifies that the principal of an elementary school or a secondary school is primarily responsible for determining how money allocated to the school will be spent. Establishes a school funding formula. Provides standards for distributing categorical grants. Provides a method for making state tuition support and certain other money available to each elementary school and secondary school based on a weighted student formula developed by the school corporation with the assistance of a school funding task force.