|SB 0255||Certain Levy Increases May Draw State Aid|
|Last Action:||05/16/95 - Signed by Governor|
|Effective Date:||August 28, 1995|
HCS/SB 255 - STATE AID DEDUCTION FOR PROP C REVENUE - Current law, established under SB 380 of 1993, provides that fifty percent of Proposition C revenues (one cent sales tax) plus (until the 1997-98 school year) the amount of any additional Proposition C rollback foregone by board decision shall be deducted from a school district's state aid entitlement under the state school aid formula. The act eliminates the additional deduction from state aid entitlement for Prop C rollback foregone by board decision.
PROPERTY TAX LEVIES ELIGIBLE TO GENERATE STATE AID - Current law, established under SB 676 of 1994, makes provision for certain school tax issues applied in 1993 to be included as part of the "operating levy" which generates state aid entitlement, while allowing transfer of the revenue generated to the capital projects fund. Current law requires that post-1993 levy increases go to the capital projects fund to the extent needed to meet expenditures from the capital projects fund prior to increasing the operating levy used to generate state aid.
This act will allow certain levies approved in 1993, but not applied until 1994 to be considered as part of the 1993 tax rate for the purpose of the restriction of post 1993 taxes to capital projects. This will allow affected districts, currently including the North Andrew School District, to include such additional levies in the operating levy which determines state aid entitlement.
This act provides that a voter approved increase in the tax
rate ceiling voted prior to March 30, 1994 in a district in a
county of the fourth classification which had an existing lease
purchase arrangement at the time may be included as part of the
operating levy and generate state aid entitlement. This will
apply to levies approved in the districts of Lexington and Knob