HB0348: AN ACT to amend Tennessee Code Annotated, Section 49-3-314, relative to education finance.

Legislative Summary

As introduced, requires, if a local government adopts a budget that includes the required maintenance of effort for education funding but fails to appropriate or allocate the full amount budgeted to the LEA, the local government, in the following fiscal year, to appropriate and allocate the unfunded portion to the LEA; specifies that the maintenance of local funding effort required for a fiscal year following a fiscal year in which the local government failed to appropriate or allocate the full amount budgeted to the LEA must be determined based on the amount budgeted to the LEA for the previous fiscal year instead of the amount actually appropriated or allocated to the LEA by the local government. - Amends TCA Section 49-3-314.