The board shall multiply:
(a) The estimated number of project children in the district by the current construction cost per pupil in the area of the state project.
(b) The estimated number of indirect project children in the district by the current construction cost per pupil in the area, multiplied by 55 percent.
(c) "Current construction cost per pupil" as used in this section means the average per pupil cost of constructing complete school facilities for the grade level maintained by the district for which application for an apportionment is made under this chapter.
(d) The total of the amounts computed pursuant to subdivisions (a) and (b) shall be apportioned to the district.
(Added by Stats. 1996, Ch. 277, Sec. 2. Operative January 1, 1998.)