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Prescribing a formula for annual calculation of a county economic index based, in part, on true market value of assessed real property in each school district, as defined and determined herein and providing procedure for a phasing-in of the new index local fund assignments; providing for a deletion from amount chargeable to school districts and to total county assignments; prescribing implementation and procedure provisions for the computation of local fund assigment of school districts and notification thereof, thereby to bring into relation the new economic index; also vesting responsibility in the state comptroller of public accounts with regard to validation of certificates of assessments and percentages of assessments upon referral by the Central Education Agency, and to assist in preparation of informational forms necessary to discharge such duties.