| Date Requested:February 01, 2012 Time Requested:03:11 PM |
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| FUND(S) | |||
|---|---|---|---|
Sources of Revenue | |||
| General Fund | |||
Legislation creates:
Neither Program nor Fund | |||
Effect this measure will have on costs and revenues of state government.
| The purpose of this bill is to reduce the amount of local property tax collections used in the local share calculation of the Public School Support Program to 85% in FY 2013 and to 80% in FY 2014 and thereafter. |
| Over-all effect |
| Effect of Proposal | Fiscal Year | ||
|---|---|---|---|
| 2012 Increase/Decrease (use"-") |
2013 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) | |
| 1. Estmated Total Cost | 0 | 23,629,413 | 47,258,826 |
| Personal Services | 0 | 0 | 0 |
| Current Expenses | 0 | 0 | 0 |
| Repairs and Alterations | 0 | 0 | 0 |
| Assets | 0 | 0 | 0 |
| Other | 0 | 0 | 0 |
| 2. Estimated Total Revenues | 0 | 0 | 0 |
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3. Explanation of above estimates (including long-range effect):
This proposed legislation would reduce the local share percent by 5% for the 2012-13 year and by another 5% for the 2013-14 year and each year thereafter. This change would increase State aid to schools by approximately $23,629,413 for the 2012-13 year and by approximately $47,258,526 for the 2013-14 year, as compared to the estimated amount of state aid that would be required at the current local share percent of 90%. |