LD 130 LR 627(02)
An Act To Stabilize Education Funding by Reducing the Impact of Changes in Property Valuation
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Education and Cultural Affairs
Fiscal Note Required: Yes
Fiscal Note
No State fiscal impact
Fiscal Detail and Notes
Requiring the property fiscal capacity component of the school funding formula to be based on a 2-year average of the property values of a municipality included in a school administrative unit (SAU) in fiscal year 2014-15 and a 3-year average in fiscal year 2015-16 and succeeding fiscal years instead of the certified state valuation for the year prior to the most recently certified state valuation as defined in current law will not change the total state and local cost of K-12 public education or the state's share of that cost.  It may, however, affect the required local contribution for specific local school administrative units and, therefore, the amount of state subsidy received by each SAU.  The impact to individual SAU's can not be determined at this time.