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"25. For the second year, the Department of Education shall modify the existing Standards of Quality (SOQ) funding formula and calculation of composite index of local ability-to-pay, and modify the formula that determines each locality's ability to pay for its share of providing an educational program meeting the prescribed SOQ to (i) incorporate tax values and population estimates for the fiscal year ending one year prior to the fiscal biennium in which the distribution takes place; (ii) provide for a 86th percentile population density adjustment in certain localities; and (iii) incorporate median adjusted gross income. Further, the indices of wealth are determined by combining the following constituent index elements with the indicated weighting: (i) true values of real estate and public service corporations, as reported by the State Department of Taxation for the calendar year, at 44 percent; (ii) median adjusted gross income for the calendar year, as reported by the State Department of Taxation, at 49 percent; and (iii) the sales for the calendar year that are subject to the state general sales and use tax, as reported by the State Department of Taxation, at seven percent. This measure reflects certain recommendations included in the Joint Legislative Audit and Review Commission (JLARC) Review on Elementary and Secondary School Funding (February 2002)."