53A-17a-143.   District tax rate -- Increase of local property tax rate -- Termination.
     (1) In addition to the revenues received from the levy imposed by each school district and authorized by the Legislature under Section 53A-17a-135, a local school board may increase its tax rate to provide an amount equal to the difference between the district's anticipated receipts under the entitlement for the fiscal year from Public Law 81-874 and the amount the district actually received from this source for the next preceding fiscal year.
     (2) The tax rate for this purpose may not exceed .0008 per dollar of taxable value in any fiscal year.
     (3) This authorization terminates for each district at the end of the third year it is used.
     (4) If at the end of a fiscal year the sum of the receipts of a school district from this special tax rate plus allocation from Public Law 81-874 for that fiscal year exceeds the amount allocated to the district from Public Law 81-874 for the next preceding fiscal year, the excess funds are carried into the next succeeding fiscal year and become in that year a part of the district's contribution to its basic program for operation and maintenance under the state minimum school finance law.
     (5) During that year the district's required tax rate for the basic program shall be reduced so that the yield from the reduced tax rate plus the carryover funds equal the district's required contribution to its basic program.
     (6) A district that reduces its basic tax rate under this section shall receive state minimum school program funds as though the reduction in the tax rate had not been made.

Amended by Chapter 271, 1995 General Session
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Last revised: Thursday, May 28, 2009