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The Superintendent of Public Instruction shall, beginning in the 2001-02 school year, apportion funds to school districts pursuant to the provisions of this section. The superintendent shall perform the following calculations:

(a) Divide the total funding available for gifted and talented education (GATE) by the statewide total units of average daily attendance in kindergarten and grades 1 to 12, inclusive, at the second principle apportionment of the prior year, for all school districts participating in the GATE program in the current year.

(b) Multiply the dollar amount computed in subdivision (a) by the average daily attendance at the second principle apportionment of the prior year for each participating school district.

(c) No school district with fewer than 1,500 pupils in average daily attendance shall receive less to support its GATE program than two thousand five hundred dollars ($2,500) or the amount it received in 1998-99, whichever is greater.

(d) No district shall receive less per average daily attendance than the amount it received per average daily attendance in the 1999-2000 school year.

(e) The dollar amount in subdivision (c) shall be increased annually by the percentage inflation adjustment provided to the revenue limits of unified school districts of over 1,500 pupils in average daily attendance.

(Added by Stats 2000, Ch. 748, Sec. 7)