SJ0001

SJ0001 Bill Summary Bill No.: SJ0001 Drafter: DRN LSO No.: 06LSO-0286 Effective Date: Enrolled Act No.: SEJR0001 Chapter No.: Prime Sponsor: Senator Coe Catch Title: School finance-recapture limitation. Subject: Constitutional provision for equalization of school district tax revenues through recapture of excess. Summary/Major Elements: Current constitutional provisions limit the amount of school district tax revenues which may be recaptured by the state and redistributed to school districts through the school foundation program. The constitutional limitation is at 75% of the excess (a separate computation based upon the districts assessed valuation per ADM compared to the statewide average). The proposed constitutional amendment eliminates this limitation, which would allow all "excess" to be recaptured and redistributed to school districts. The proposition will be submitted to the electorate at the November 2006 general election.