Staff Analysis of the Legislation
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Under current law, when a district applies a property tax levy, it must be equal to the district’s qualifying tax rate or a rate that equaled the district’s support level. A district may also tax at a rate that would result in a levy that equals any legal amount that corrects an outstanding cash deficit from the close of the current financial year. This law makes multiple changes to how school districts can tax and alters what the County School Superintendent must include in their annual estimate on the amount of funds required by each district for the ensuing school year. The bill. Eliminates the requirement the County School Superintendent report on the following items: The total amount of funds to be received for the year by each school district from the County School Fund and the Special County School Reserve Fund. The anticipated interest earnings for each district. The revenues equal to the amount included in the adopted budget for the maintenance and operation section of the budget.
States if a school district applies a property tax levy, the rate must be equal to the applicable qualifying tax rate or to the district’s equalization assistance base, whichever is less. Enables a district to tax less than the difference between its Transportation Revenue Control Limit and its Transportation Support Level. Enables a district to tax at a rate that equals any amount pursuant to a qualifying dropout prevention program that was originally established by law in 1987. Specifies that a district can tax at a rate that would result in a levy that equals any separately stated cash deficit from the prior fiscal year resulting from an anticipated or actual deviation in the property tax roll, including resolutions or judgements relating to property tax appeals or the correction of property tax errors.
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