SB 463 — Makes an appropriation to the Department of Education for transfer to certain charter schools. (BDR S-1181)

EXEMPTSenate S.B.Bill No.

463463–Committee SENATEon BILLNFinance OCHAPTER.......... .

463–COMMITTEE ON F INANCE M AY 29, 2021 ____________ Referred to Committee on Finance SUMMARY—Makes an appropriation to the Department of Education for transfer to certain charter schools.

(BDR S-1181) FISCAL NOTE:

Effect on Local Government:

No.

Effect on the State:

Contains Appropriation not included in Executive Budget.

~ EXPLANATION – Matter in bolded italics is new;

matter between brackets [omitted material] is material to be omitted.

EXPLANATION – Matter in bolded italics is new;

matter between brackets [omitted material] is material to be omitted.

There is hereby appropriated from the State General Fund to the Other State Education Programs Account in the State General Fund the sum of $3,806,363 for transfer to charter schools identified in this section that have the potential to receive less funding pursuant to the Pupil-Centered Funding Plan in Fiscal Year 2021-2022 or Fiscal Year 2022-2023 than the calculated hold harmless threshold amount for Fiscal Year 2021-2022 or Fiscal Year 2022-2023 for each charter school identified in subsection 6 or 7 to be used as one-time funding to enable such charter schools toor 7 to transition fully to the Pupil-Centered Funding Plan.

Of the sum appropriated by subsection 1, the Department of Education may transfer the sum of $2,089,283 in Fiscal Year 2021- 2022 and the sum of $1,717,080 in Fiscal Year 2022-2023 for the purposes specified in subsections 6 and 7.

The sum appropriated by subsection 1 that is unencumbered or unexpended at the end of Fiscal Year 2020-2021 does not revert to the State General Fund, must be carried forward to the next fiscal - *SB463* – 2 – year and is hereby authorized for use in the next fiscal year for the purposes specified in subsections 2 and 6.

Any remaining balance of the sum appropriated by subsection 1 must not be committed for expenditure after June 30, 2023, and any portion of the appropriated money remaining must not be spent for any purpose after - 81st Session (2021) – 2 – September 15, 2023, and must be reverted to the State General Fund on or before September 15, 2023.

For each charter school identified in this subsection, the Department of Education shall transfer to the charter school from the sum set forth in subsection 2 for Fiscal Year 2021-2022, in equal quarterly installments at the beginning of each quarter during Fiscal Year 2021-2022, the following maximum transfer amount for Fiscal Year 2021-2022:

Charter School Hold Maximum Harmless Transfer Threshold Amount Alpine Academy $942,773 $97,843 Bailey Charter School $1,965,779 $219,352 Beacon Academy $3,144,689 $549,864 Carson Montessori $2,336,140 $52,126 Coral Academy of Science Washoe $10,880,331 $65,347 Elko Institute for Academic Achievement $1,987,180 $447,381 enCompass Academy $728,993 $44,359 Honors Academy of Literature $1,696,828 $15,179 Imagine School Mountain View $5,376,352 $93,641 Learning Bridge $2,103,389 $19,218 SierraSieAcademy Nevada Academy Charter $3,058,826 $263,869 - *SB463* – 3 – Charter School Hold Maximum Harmless Transfer Threshold Amount Silver Sands Montessori $2,202,671 $221,104  After the end of Fiscal Year 2021-2022, the Department of Education shall compare the total funding actually received through the Pupil-Centered Funding Plan pursuant to NRS 387.1214 for each charter school identified in this subsection to the hold harmless threshold identified in this subsection for the charter school and calculate the actual difference between those amounts.

For each charter school identified in this subsection, the Department of Education shall transfer to the charter school from - 81st Session (2021) – 3 – the sum set forth in subsection 2 for Fiscal Year 2022-2023, in equal quarterly installments at the beginning of each quarter during Fiscal Year 2022-2023, the following maximum transfer amount for Fiscal Year 2022-2023:

Charter School Hold Maximum Harmless Transfer Threshold Amount Alpine Academy $943,595 $85,603 Bailey Charter School $1,967,493 $197,107 Beacon Academy $3,147,431 $513,388 Carson Montessori $2,338,177 $20,542 Elko Institute for $2,338,177 $20,542 Academic Achievement $1,988,913 $425,332 enCompass Academy $729,629 $35,540 Imagine School Mountain View $5,381,040 $20,253 Sierra Nevada Academy Charter $3,061,494 $226,529 Silver Sands Montessori $2,204,592 $192,786  After the end of Fiscal Year 2022-2023, the Department of Education shall compare the total funding actually received through the Pupil-Centered Funding Plan pursuant to NRS 387.1214 for each charter school identified in this subsection to the hold harmless threshold identified in this subsection for the charter school and calculate the actual difference between those amounts.

If the - *SB463* – 4 – calculated actual difference is less than the maximum transfer amount, the charter school shall, on or before September 1, 2023, repay to the Department of Education the difference between the3,the maximum transfer amount and the calculated actual difference.

H~~~~~21 - *SB463*81st Session (2021)