5th Sub.
S.B.
48
EQUALIZATION OF SCHOOL CAPITAL OUTLAY FUNDING
house floor
Amendments
Amendment 1 February 29, 2008 10:26 am
Representative Kay L. McIff
proposes the following amendments:
1. Page
20, Lines 597 through 603
:
597
imposed by any school district within the state for a fiscal year.
(5) "Property tax base per ADM" means the quotient of:
(a) a school district's derived net taxable value; divided by
(b) the school district's ADM for the same year.
598
{
(5)
}
(6)
"Property tax yield per ADM" means:
599
(a) the product of:
600
(i) a school district's derived net taxable value; and
601
(ii) the highest combined capital levy rate for the fiscal year of the March 31 referenced
602
in Subsection (3)(a); divided by
603
(b) the school district's ADM for the same fiscal year.
(7) "Statewide average property tax base per ADM" means the quotient of:
(a) the sum of all school districts' derived net taxable value; divided by
(b) the sum of all school districts' ADM statewide for the same year.
2. Page
22, Lines 659 through 660
:
659
(ii) the highest combined capital levy rate.
(5)(a) The State Board of Education shall allocate:
(i) a minimum of $200,000 to each school district with a property tax base per ADM less than or
equal to the statewide average property tax base per ADM;
(ii) a minimum of $100,000 to each school district with a property tax base per ADM that is:
(A) greater than the statewide average property tax base per ADM; and
(B) less than or equal to two times the statewide average property tax base per ADM; and
(iii) a minimum of $50,000 to each school district with a property tax base per ADM that is:
(A) greater than two times the statewide average property tax base per ADM; and
(B) less than or equal to five times the statewide average property tax base per ADM.
(b) The State Board of Education shall incorporate the minimum allocations described in
Subsection (5)(a) in its calculation of the foundation guarantee level per ADM determined in accordance
with Subsection (1).
660
Section 20.
Section
53A-21-301
is enacted to read:
3. Page
22, Line 674 through Page 23, Line 681
:
674
year statewide average property tax base per student.
675
{
(c) "Property tax base per student" means the quotient of:
676
(i) a school district's derived net taxable value; divided by
677
(ii) the school district's ADM.
678
(d) "Statewide average property tax base per student" means the quotient of:
679
(i) the sum of all school districts' derived net taxable value; divided by
680
(ii) the sum of total school district ADM statewide for the same year.
}
681
Section 21.
Section
53A-21-302
is enacted to read:
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sb0048s05.hfa.01.wpd
LRGC
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