SB 0778 Revises Req. For School Tax Levies For Capital Projects
LR Number:S2683.01I Fiscal Note:2683-01
Last Action:02/13/96 - Hearing Conducted S Education Committee
Effective Date:August 28, 1996
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Current Bill Summary

SB 778 - This act would remove the current requirement, in Section 164.011, RSMo, to place school tax levy increases first in the capital projects levy to the extent needed to satisfy capital needs. This provision was enacted in SB 676 from 1994, along with an allowance of a transfer of revenue (equal to twenty-four cents times the guaranteed tax base) from the incidental fund to the capital projects fund. The capital projects levy does not generate state aid.

Under this act, districts would still make capital expenditures from the capital projects fund, and districts could continue to make the twenty-four cents transfer from the incidental fund to the capital projects fund. Districts would also be able to vote levy increases above $2.75 and decide how much additional levy goes to the operating levy (which drives state school aid) and how much goes to the capital projects levy for additional capital needs beyond that covered by the twenty- four cents transfer.