|Date Requested:February 01, 2012
Time Requested:03:11 PM
| FUND(S) |
Sources of Revenue
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.|
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||23,629,413||47,258,826|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
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%.