A.  Local school boards may, by mutual agreement, provide for the admission to any school of pupils residing in adjoining parishes and for transfer of school funds or other payments by one board to another for, or on account of, such attendance.  

B.  Each transfer of school funds provided for in La. Rev. Stat. 17:105(A) shall be equal to the following for each student so admitted:

(1)  The total of:

(a)  The actual cost per student in the school system admitting such student for the school year in which such student is admitted, such cost to be determined by the state Department of Education, and

(b)  An amount equal to the cost of debt service for the school such student attends for the school year in which such student is admitted divided by the number of students attending such school;

(2)  Less all monies received by the admitting school system through the minimum foundation program formula because of the attendance of such students.  

C.  If the remainder of the computation required in La. Rev. Stat. 17:105(B) is less than zero, then neither school system shall be financially liable to the other for, or on account of, such attendance.  

Acts 1960, No. 492, §1.  Amended by Acts 1982, No. 68, §1, eff. Aug. 15, 1982.