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Ch. 717 2024 LAWS OF MARYLAND
– 26 – full–time equivalent student [multiplied by the number of full–time equivalent students at the board’s community college or colleges.
(ii) The dollar amount per full–time equivalent student shall be calculated by dividing 60% of the total State operating fund for the fiscal year by the total number of full–time equivalent students at community colleges statewide.
(iii) In determining the marginal costs component for a board, the number of full–time equivalent students at all campuses and colleges operated by the board shall be added together] TO THE COMMUNITY COLLEGES.
[(6)] (5) (i) The size factor component shall be [2% of] the year’s total State operating fund MULTIPLIED BY 2%.
(ii) Except as provided in subparagraph (iii) of this paragraph, the funds available for the size factor component shall be divided and distributed equally to each board that operates a community college or colleges at which the total number of full–time equivalent students is less than or equal to 80% of the statewide median.
(iii) 1. Beginning with the first fiscal year that a board no longer meets the eligibility requirements under subparagraph (ii) of this paragraph, the board shall continue to receive a percentage of the size factor component that the board received in the last fiscal year for which the board was eligible, as follows:
A. 80% for the first fiscal year;
B. 60% for the second fiscal year;
C. 40% for the third fiscal year;
D. 20% for the fourth fiscal year; and
E. 0% for the fifth and each subsequent fiscal year.
2. The distributions required under subparagraph (ii) of this paragraph shall be made from the remaining funds available for the size factor component after any distributions required under this subparagraph.
(iv) In determining the eligibility of a board for a size factor component, the number of full–time equivalent students at all campuses and colleges operated by the board shall be added together.
[(7) (i) A board shall be eligible for a hold harmless component beginning in fiscal year 1998 if the sum of the board’s fixed costs, marginal costs, and size factor components for the fiscal year is less than the board’s total State share in the prior fiscal year.