§ 70-7-203.1. Determination of number of districts intending to annex or consolidate - Transfer of funds when qualified combined districts is two or less.

Beginning July 1, 2006, and each year thereafter, the State Board of Education shall determine the number of districts that notified the Board of their intent to annex or consolidate by June 30 of the previous fiscal year.  If the Board determines the number of qualified combined districts to be two or less, the Board is authorized to transfer up to one-half of the funds transferred to the School Consolidation Assistance Fund for that fiscal year for allocation to the Financial Support of Public Schools for distribution to school districts in the State Aid Formula, provided in Section 18-200.1 of Title 70 of the Oklahoma Statutes.  The State Board of Education is further authorized to transfer up to one-half of the funds not allocated to school districts for annexation or consolidation for the fiscal year ending June 30, 2006, for allocation to the Financial Support of Public Schools.

Added by Laws 2006, 2nd Ex.Sess., c. 50, § 36, eff. July 1, 2006.