Amend the bill, as and if amended, SECTION 1, by striking subsection (H) and inserting:
/ (H) The requirements to place a district on fiscal watch, caution, or emergency must be suspended for the two fiscal years following any state-implemented midyear budget cut, if
(1) the district fails to maintain a general reserve fund of at least one month of general fund operating expenditures;
(2) the State continues to fund at the current base student cost;
(3) the State reduces the base student cost below the appropriation provided in the previous fiscal year; or
(4) the State increases the base student cost appropriation provided in the previous fiscal year but the increase is less than the previous fiscal year's appropriation as adjusted by the Consumer Price Index." /
Renumber sections to conform.
Amend title to conform.