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6-23-907. Failure to remit payment.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-23-907. Failure to remit payment.
(a) If an open-enrollment public charter school fails to remit payment for an outstanding loan under the Open-Enrollment Public Charter School Facilities Loan Fund, upon certification of the amount of delinquent funds by the Division of Public School Academic Facilities and Transportation, the amount of delinquent funds including penalties and interest may be deducted from the operating funds designated to the open-enrollment public charter school through the Division of Elementary and Secondary Education and remitted directly by the Division of Elementary and Secondary Education to the Open-Enrollment Public Charter School Facilities Loan Fund if requested by the Division of Public School Academic Facilities and Transportation.
(b) The operating funds from which delinquent funds may be deducted for an open-enrollment public charter school are limited to:
(1) State funding distributed under § 6-20-2305, including without limitation state foundation funding and state categorical funding;
(2) Federal funding to the extent allowed under federal law; and
(3) The net assets of an open-enrollment public charter school deemed property of the state upon revocation or nonrenewal of the charter.
(c) The state shall hold a preferred security interest in the amount of the outstanding loan.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-23-907
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:6-23-907
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 63b19a09ced103a7dc9b50f57fef1879abb6a78da498a744c95dfa96f19fbd50
Source location: content.xml paragraph 26974
Stored source content
6-23-907. Failure to remit payment.
(a) If an open-enrollment public charter school fails to remit payment for an outstanding loan under the Open-Enrollment Public Charter School Facilities Loan Fund, upon certification of the amount of delinquent funds by the Division of Public School Academic Facilities and Transportation, the amount of delinquent funds including penalties and interest may be deducted from the operating funds designated to the open-enrollment public charter school through the Division of Elementary and Secondary Education and remitted directly by the Division of Elementary and Secondary Education to the Open-Enrollment Public Charter School Facilities Loan Fund if requested by the Division of Public School Academic Facilities and Transportation.
(b) The operating funds from which delinquent funds may be deducted for an open-enrollment public charter school are limited to:
(1) State funding distributed under § 6-20-2305, including without limitation state foundation funding and state categorical funding;
(2) Federal funding to the extent allowed under federal law; and
(3) The net assets of an open-enrollment public charter school deemed property of the state upon revocation or nonrenewal of the charter.
(c) The state shall hold a preferred security interest in the amount of the outstanding loan.
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Arkansas Code — all titles (historical 2020) · legal_authorities
6-20-2305. School funding.
(a)(1)(A) For each school year, each school district shall receive state foundation funding aid computed as the foundation funding amount under subdivision (a)(2) of this section less the sum of:
(i) Ninety-eight percent (98%) of the uniform rate of tax multiplied by the property assessment of the school district; and
(ii) An amount of miscellaneous funds of the school district calculated under § 6-20-2308.
(B) The Division of Elementary and Secondary Education shall distribute state foundation funding aid to each school district in twelve (12) monthly payments.
(2)(A) For the 2019-2020 school year, the foundation funding amount is equal to six thousand eight hundred ninety-nine dollars ($6,899) multiplied by the school district's average daily membership for the previous school year.
(B) For the 2020-2021 school year and each school year thereafter, the foundation funding amount is equal to seven thousand eighteen dollars ($7,018) multiplied by the school district's average daily membership for the previous school year.
(3)(A) A school district that has experienced a decline in average daily membership over the two (2) immediately preceding school years shall receive:
(i) Declining enrollment funding equal to the difference between the average of the two (2) immediately preceding years' average daily memberships and the average daily membership for the previous school year multiplied by the amount of foundation funding set forth in subdivision (a)(2) of this section; or
(ii) Special needs isolated funding under § 6-20-604.
(B) Any funding appropriated and available for declining enrollment funding under subdivision (a)(3)(A)(i) of this section or special needs isolated funding under § 6-20-604 that is not distributed under
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-20-2305
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 6-20-2305. This identifies an authority to review, not proof of applicability.