198:40-g Fiscal Capacity Disparity Aid. –
I. In addition to aid for the cost of the opportunity for an adequate education provided under RSA 198:40-a, each year the commissioner shall calculate a fiscal capacity disparity aid grant for schools and provide that amount of aid to a municipality's school districts as follows:
(a) A municipality with an equalized valuation per pupil of $1,000,000 or less shall receive $1,250 per pupil eligible in the municipality's ADMR.
(b) A municipality with an equalized valuation per pupil between $1,000,001 and $1,599,999 shall receive a grant equal to $0.00208333 for each dollar of difference between its equalized valuation per pupil and $1,599,999, for each pupil the municipality's ADMR.
(c) A municipality with an equalized valuation per pupil of $1,600,000 or more shall not receive a fiscal capacity disparity aid grant.
II. In this section:
(a) "Grant floor" means $1,000,000 in equalized valuation per pupil.
(b) "Grant ceiling" means $1,600,000 in equalized valuation per pupil.
(c) "Factor" means $0.00208333 for each dollar difference between equalized valuation per pupil.
(d) "Maximum grant" means $1,250 per pupil.
III. The fiscal capacity disparity aid grants shall be calculated using the formula described in paragraph I, however, beginning July 1, 2027, and every year thereafter, the grant floor, grant ceiling, and maximum grant shall be increased by 2 percent. The factor shall be readjusted by taking the newly adjusted maximum grant and dividing by the difference between the grant floor and grant ceiling.