|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|
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.