2nd Sub.
S.B.
111
EDUCATION FUNDING EQUALIZATION
Senate Committee
Amendments
Amendment 1 February 10, 2014 12:26 PM
Senator Aaron Osmond
proposes the following amendments:
1. Page
15, Lines 448 through 457
:
448
(1) (a) Except as provided in Subsection (1)(b), as used in this section, "basic levy
449
increment rate" means a rate equal to the lesser of:
450
(i) the difference between:
451
(A) a rate of .001691; and
452
(B) the certified revenue levy; and
453
(ii) a rate that:
454
(A) provides an amount of ad valorem property tax revenue equal to $100,000,000; and
455
(B) is calculated in the same manner as the certified revenue levy.
456
(b) If the difference calculated in Subsection (1)(a)(i) is less than zero, "basic levy
457
increment rate" means a rate equal to
{
the rate described in Subsection (1)(a)(ii)
}
zero
.
Page 1 of 1
LRGC
lelder
lelder
S 02/10/14 12:15p