SECTION 1. Legislative intent

SECTION 2. Definitions

SECTION 3. Foundation budget; regulations; calculation of budget

SECTION 3A. Data necessary to generate required minimum local contribution and state aid components; house and senate committees on ways and means; bi-monthly updates

SECTION 4. Foundation budget review commission; membership; recommendations

SECTION 5. Municipalities receiving overburden aid; reductions

SECTION 6. Contributions by municipalities for support of local schools and school district

SECTION 6A. Recalculation of annual minimum required local contribution; appeal for adjustment; reduction; guidelines for implementation

SECTION 7. Reductions in amount appropriated

SECTION 8. Districts' methods for allocating appropriated funds; under-performing districts; restrictions

SECTION 9. Reports on amounts spent for certain expenses

SECTION 10. Aid paid to municipalities and districts; amounts

SECTION 11. Excess funds; application to following fiscal year

SECTION 12. Determination of amounts appropriated

SECTION 13. Allocation of funds

SECTION 14. Exemption of certain districts from chapter

SECTION 15. Applicability of chapter