This Act removes the 10% increase in school property tax revenue and replaces it with a school district that can demonstrate that it will suffer a loss of projected revenue resulting from the general reassessment being allowed to increase its rate of taxation up to 2% per year for 5 years or until the district's projected revenue loss per year has been fully realized, whichever comes first.

Statutes affected:
Original Text: 14.1916
HS 1 Original / Not Amended: 14.1916
HS 2 Original / Not Amended: 14.1916