(1) As used in this section: (a) "Average annual net enrollment increase" means the quotient of: (i) (A) enrollment in the prior fiscal year, based on October 1 enrollment counts; minus (B) enrollment in the year four years prior, based on October 1 enrollment counts; divided by (ii) three. (b) "Eligible district" or "eligible school district" means a school district that: (i) has an average annual net enrollment increase; and (ii) has a property tax base per ADM in the year two years prior that is less than two times the statewide average property tax base per ADM in the year two years prior.

(a) "Average annual net enrollment increase" means the quotient of: (i) (A) enrollment in the prior fiscal year, based on October 1 enrollment counts; minus (B) enrollment in the year four years prior, based on October 1 enrollment counts; divided by (ii) three.

(i) (A) enrollment in the prior fiscal year, based on October 1 enrollment counts; minus (B) enrollment in the year four years prior, based on October 1 enrollment counts; divided by

(A) enrollment in the prior fiscal year, based on October 1 enrollment counts; minus

(B) enrollment in the year four years prior, based on October 1 enrollment counts; divided by

(ii) three.

(b) "Eligible district" or "eligible school district" means a school district that: (i) has an average annual net enrollment increase; and (ii) has a property tax base per ADM in the year two years prior that is less than two times the statewide average property tax base per ADM in the year two years prior.

(i) has an average annual net enrollment increase; and

(ii) has a property tax base per ADM in the year two years prior that is less than two times the statewide average property tax base per ADM in the year two years prior.

(2) There is created the Capital Outlay Enrollment Growth Program to provide capital outlay funding to school districts experiencing net enrollment increases.

(3) For fiscal years beginning on or after July 1, 2008, the state board shall annually allocate appropriated funds to eligible school districts in accordance with Subsection (4).

(4) The state board shall allocate to an eligible school district an amount equal to the product of: (a) the quotient of: (i) the eligible school district's average annual net enrollment increase; divided by (ii) the sum of the average annual net enrollment increase in all eligible school districts; and (b) the total amount appropriated for the Capital Outlay Enrollment Growth Program in that fiscal year.

(a) the quotient of: (i) the eligible school district's average annual net enrollment increase; divided by (ii) the sum of the average annual net enrollment increase in all eligible school districts; and

(i) the eligible school district's average annual net enrollment increase; divided by

(ii) the sum of the average annual net enrollment increase in all eligible school districts; and

(b) the total amount appropriated for the Capital Outlay Enrollment Growth Program in that fiscal year.