[§302A-1303.6] Weighted student formula. [Section effective July 1, 2006.] Based upon recommendations from the committee on weights, the board of education, not less than annually, shall adopt a weighted student formula for the allocation of moneys to public schools which takes into account the educational needs of each student. The department, upon the receipt of appropriated moneys, shall use the weighted student formula to allocate funds to public schools. Principals shall expend moneys provided to the principals' schools. This section shall only apply to new century charter schools and new century conversion charter schools for fiscal years in which the new century charter schools and new century conversion charter schools elect pursuant to section 302A-1182.5 to receive allocations according to the weighted student formula. [L 2004, c 51, §4 and am c 221, §7]

Effective July 1, 2006, L 2004, c 51, §2 provides:

"SECTION 2. The department of education, from within appropriations provided to the department of education, shall provide supplementary allocations to those schools whose budgets are adversely affected upon the implementation of the weighted student formula, as determined by the superintendent, for no more than three years beginning with the 2006-2007 school year."