(D) Divide the product in clause (C) by the Statewide median
of clause (C).
(ii) Determine the school district's excess spending factor,
to be calculated as follows:
(A) Divide the school district's current expenditures by the
sum of its average daily membership and the amounts in paragraph
(1)(ii), (iii), (iv), (v), (vi) and (vii).
(B) Divide the quotient in clause (A) by the Statewide
median of clause (A).
(C) Divide one (1) by the quotient in clause (B).
(iii) Multiply the school district's local effort factor by
the lesser of one (1) or the school district's excess spending
factor.
(3) Local capacity index for a qualifying school district
shall be calculated as follows:
(i) Divide the school district's local tax-related revenue
by the sum of its market value and personal income valuation.
(ii) Multiply the sum of the school district's market value
and personal income valuation by the Statewide median of
subparagraph (i).
(iii) Determine the school district's local capacity per
student by dividing the product in subparagraph (ii) by the sum
of its average daily membership and the amounts in paragraph (1)
(ii), (iii), (iv), (v), (vi) and (vii).
(iv) If the school district's local capacity per student is
less than the Statewide median of subparagraph (iii):
(A) Divide the school district's local capacity per student
by the Statewide median.
(B) Subtract the quotient in clause (A) from one (1).
(4) Local effort capacity index for a school district shall
equal the sum of its local effort index and local capacity
index.
(5) The data used to calculate the factors and indexes in
this section shall be based on the most recent years for which
data is available as determined by the Department of Education.
(d) For purposes of this section:
(1) "Acute poverty percentage" shall mean the number of
children six (6) to seventeen (17) years of age living in a
household where the ratio of income to poverty is less than one
hundred percent (100%) of the Federal poverty guidelines divided
by the total number of children six (6) to seventeen (17) years
of age as determined by the most recent five-year estimate of
the United States Census Bureau's American Community Survey.
(2) "Households" shall mean the number of households in each
school district as determined by the most recent five-year
estimate of the United States Census Bureau's American Community
Survey.
(3) "Local tax-related revenue" shall mean the sum of school
district revenues for State property tax reduction allocation,
taxes levied and assessed, delinquencies on taxes levied and
assessed, revenue from local government units, and other local
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