Chap. 0177 An Act relating to the distribution of the school fund.
Be it enacted, etc., as follows:
Section 1. One half of the annual income of the school fund of the Commonwealth shall be apportioned and distributed, without a specific appropriation, for the support of public schools, and in the manner following, to wit: - Every town complying with all laws in force relating to the distribution of said income and whose valuation of real and personal estate, as shown by the last preceding assessors valuation thereof, does not exceed
one half million dollars, shall annually receive two hundred and seventy-five dollars ; every such town whose valuation is more than one half million dollars and does not exceed one million dollars, shall receive two hundred dollars ; and every such town whose valuation is more than one million dollars and does not exceed two million dollars, shall receive one hundred dollars ; and every such town whose valuation is more than two million dollars and does not exceed three million dollars, shall receive fifty dollars. The remainder of said half shall be distributed to all towns whose valuation does not exceed three million dollars and whose annual tax rate for the support of public schools is not less than one sixth of their whole tax rate for the year, as follows :-Every town whose public-school tax is not less than one third of its whole tax shall receive a proportion of said remainder expressed by one third ; every such town whose school tax is not less than one fourth of its whole tax shall receive a proportion expressed by one fourth ; every such town whose school tax is not less than one fifth of its whole tax shall receive a proportion expressed by one fifth ; and every such town whose school tax is not less than one sixth of its whole tax shall receive a proportion expressed by one sixth. All money appropriated for other educational purposes, unless otherwise specially provided, shall be paid from the other half of said income. If the income in any year exceeds such appropriations the surplus shall be added to the principal of said fund.
Section 2. Section one of chapter twenty-two of the acts of the year eighteen hundred and eighty-four is hereby repealed. Approved April 9, 1891.