(1) After receiving the certified BASE budget levies, the State Superintendent of Public Instruction will determine the amount of general fund GTBA a qualifying district will receive in FY 20XX+1 using the following calculations:

(a) 20XX+1 state elementary or high school GTB ratio * district's 20XX GTBA budget area = "A"

(b) "A" - district taxable value = "B"

(c) "B"/1000 = dollar amount of 20XX+1 GTBA per mill levied. The result will be rounded to the nearest whole dollar to determine the amount of the subsidy payment.

(2) A district must fund its budget with funds available for reappropriation and nonlevy revenues before it levies property taxes to fund the GTBA budget area.