(1) A portion of the proceeds of the state property tax levy shall be deposited into the student achievement fund as provided in this section.

     (2)(a) The amount of the deposit shall be based upon the average number of full-time equivalent students in the school districts during the previous school year as reported to the office of the superintendent of public instruction by August 31st of the previous school year.

     (b) For the 2004-2005 through 2007-2008 school years, an annual amount equal to two hundred fifty-four dollars per full-time equivalent student in all school districts shall be deposited in the student achievement fund.

     (c) For the 2008-2009 school year, an annual amount equal to two hundred sixty-five dollars per full-time equivalent student in all school districts shall be deposited in the student achievement fund.

     (d) For the 2009-2010 school year, an annual amount equal to two hundred seventy-seven dollars per full-time equivalent student in all school districts shall be deposited in the student achievement fund.

     (e) For the 2010-2011 school year and each year thereafter, an annual amount equal to two hundred seventy-eight dollars per full-time equivalent student in all school districts shall be deposited in the student achievement fund.

     (f) The school district annual amounts shall be deposited based on the monthly apportionment schedule as defined in RCW 28A.510.250. The office of the superintendent of public instruction shall notify the department of the monthly amounts to be deposited into the student achievement fund to meet the apportionment schedule.

[2005 c 514 § 1104; 2003 1st sp.s. c 19 § 1; 2001 c 3 § 5 (Initiative Measure No. 728, approved November 7, 2000).]

NOTES:

     Effective date -- 2005 c 514: See note following RCW 83.100.230.

     Part headings not law -- Severability -- 2005 c 514: See notes following RCW 82.12.808.

     Application -- 2001 c 3 § 5 (Initiative Measure No. 728): "Section 5 of this act applies to taxes levied in 2000 for collection in 2001 and thereafter." [2001 c 3 § 6 (Initiative Measure No. 728, approved November 7, 2000).]

     Short title -- Purpose -- Intent -- Construction -- Severability -- Effective dates -- 2001 c 3 (Initiative Measure No. 728): See notes following RCW 28A.505.210.