20-9-638. Coal-fired generating unit closure mitigation block grant.
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20-9-638 . Coal-fired generating unit closure mitigation block grant.
(a)The office of public instruction shall provide a coal-fired generating unit closure mitigation block grant to each school district with a fiscal year 2017 taxable valuation that includes a coal-fired generating unit with a generating capacity that is greater than or equal to 200 megawatts, was placed in service prior to 1980, and is retiring or planned for retirement on or before July 1, 2022.
(b)The electronic reporting system that is used by the office of public instruction and school districts must be used to allocate the block grant amount into each district's general fund budget as an anticipated revenue source.
(2)Each year, 70% of each district's block grant must be distributed in December and 30% of each district's block grant must be distributed in May at the same time that guaranteed tax base aid is distributed.
(3)The block grant is equal to the amount received in fiscal year 2017 by the district general fund from the block grants provided for in former 20-9-630 (4)(a) as that section read prior to July 1, 2017.