district's current expenditures by the sum of the school
district's average daily membership, sparsity size adjustment
and the amounts determined for the school district under
subsection (b)(1)(ii), (iii), (iv), (v) and (vi).
(14) The excess expenditure factor for each school district
shall be calculated as follows:
(i) Divide the school district's current expenditure per
weighted student by the State median current expenditure per
weighted student for all school districts.
(ii) Divide one (1) by the quotient in subparagraph (i).
(15) The local effort index for each school district shall
be calculated as follows:
(i) For a school district with an excess expenditure factor
equal to or greater than one (1), multiply the school district's
local effort factor by one (1).
(ii) For a school district with an excess expenditure factor
less than one (1), multiply the school district's local effort
factor by the school district's excess expenditure factor.
(16) The local effort rate for each school district shall be
calculated by dividing the school district's local effort by the
sum of the school district's market value and adjusted personal
income.
(17) The local capacity per weighted student for each school
district shall be calculated as follows:
(i) Multiply the sum of school district's market value and
adjusted personal income by the State median local effort rate
for all school districts.
(ii) Divide the product in subparagraph (i) by the sum of
the school district's average daily membership, sparsity size
adjustment and the amounts determined for the school district
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