SECTION 1. The definition of “Foundation budget” in section 2 of chapter 70 of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by adding the following:-
Further, for each school district, the foundation budget, minimum required local contribution, chapter 70 aid, and minimum required net school spending shall be calculated using the methodology underlying the distribution of chapter 70 aid in section 3 of chapter 139 of the acts of 2006; provided that, in calculating the foundation budget, the maximum target local contribution shall be 82.5 per cent of a municipality’s foundation budget; the effort reduction percentage shall be 50 per cent; and the calculation of down payment aid shall use a figure of 50 per cent of the positive difference between 100 per cent of a district’ target aid share and its prior year chapter 70 aid.
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