FOR AN ACT ENTITLED, An Act to establish an education funding goal for elementary and secondary education in South Dakota.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
    Section 1. There is hereby established an education funding goal for elementary and secondary education in South Dakota to reach by January 1, 2016, a level of funding per student that meets or exceeds the average per-student funding of South Dakota and the states that adjoin South Dakota as calculated pursuant to this section. The goal for 2012 is ten thousand two hundred and twelve dollars, and it shall be updated annually pursuant to this Act.
    Section 2. For 2013 and for each year thereafter until the goal provided for in section 1 of this Act is reached, the secretary of education shall calculate an updated goal as follows:

            (1)    The secretary shall gather the per-student funding amount for South Dakota and each of the adjoining states that is compiled and published late each year by the United States Census Bureau based upon the information the Census Bureau gathered through its Survey of Local Government Finances conducted two years previously; and

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            (2)    The secretary shall then determine the goal by examining the per-student funding amounts for each of the states, eliminating the lowest per-student funding amount and the highest per-student funding amount among those states, and calculating the average of the remaining per-student funding amounts.
    Section 3. No later than the first week of January in 2013 and in each year thereafter until the goal is reached, the secretary of education shall report to the Legislature the updated goal amount, the amount of funding by which South Dakota is short of the goal both on a per-student basis and on a total enrollment basis, and the progress that the state is making toward the goal.