LB588 LB588
2019 2019
LEGISLATURE OF NEBRASKA
ONE HUNDRED SIXTH LEGISLATURE
FIRST SESSION
LEGISLATIVE BILL 588
Introduced by Stinner, 48.
Read first time January 22, 2019
Committee: Education
1 A BILL FOR AN ACT relating to the Tax Equity and Educational
2 Opportunities Support Act; to amend section 79-1015.01, Revised
3 Statutes Cumulative Supplement, 2018; to change the local effort
4 rate; to repeal the original section; and to declare an emergency.
5 Be it enacted by the people of the State of Nebraska,
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1 Section 1. Section 79-1015.01, Revised Statutes Cumulative
2 Supplement, 2018, is amended to read:
3 79-1015.01 (1) Local system formula resources shall include local
4 effort rate yield which shall be computed as prescribed in this section.
5 (2) For each school fiscal year except school fiscal years 2017-18
6 through 2019-20 and 2018-19: (a) For state aid certified pursuant to
7 section 79-1022, the local effort rate shall be the maximum levy, for the
8 school fiscal year for which aid is being certified, authorized pursuant
9 to subdivision (2)(a) of section 77-3442 less five cents; (b) for the
10 final calculation of state aid pursuant to section 79-1065, the local
11 effort rate shall be the rate which, when multiplied by the total
12 adjusted valuation of all taxable property in local systems receiving
13 equalization aid pursuant to the Tax Equity and Educational Opportunities
14 Support Act, will produce the amount needed to support the total formula
15 need of such local systems when added to state aid appropriated by the
16 Legislature and other actual receipts of local systems described in
17 section 79-1018.01; and (c) the local effort rate yield for such school
18 fiscal years shall be determined by multiplying each local system's total
19 adjusted valuation by the local effort rate.
20 (3) For school fiscal years 2017-18 and 2018-19: (a) For state aid
21 certified pursuant to section 79-1022, the local effort rate shall be the
22 maximum levy, for the school fiscal year for which aid is being
23 certified, authorized pursuant to subdivision (2)(a) of section 77-3442
24 less two and ninety-seven hundredths cents; (b) for the final calculation
25 of state aid pursuant to section 79-1065, the local effort rate shall be
26 the rate which, when multiplied by the total adjusted valuation of all
27 taxable property in local systems receiving equalization aid pursuant to
28 the Tax Equity and Educational Opportunities Support Act, will produce
29 the amount needed to support the total formula need of such local systems
30 when added to state aid appropriated by the Legislature and other actual
31 receipts of local systems described in section 79-1018.01; and (c) the
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1 local effort rate yield for such school fiscal years shall be determined
2 by multiplying each local system's total adjusted valuation by the local
3 effort rate.
4 (4) For school fiscal year 2019-20: (a) For state aid certified
5 pursuant to section 79-1022, the local effort rate shall be the maximum
6 levy, for the school fiscal year for which aid is being certified,
7 authorized pursuant to subdivision (2)(a) of section 77-3442 less three
8 cents; (b) for the final calculation of state aid pursuant to section
9 79-1065, the local effort rate shall be the rate which, when multiplied
10 by the total adjusted valuation of all taxable property in local systems
11 receiving equalization aid pursuant to the Tax Equity and Educational
12 Opportunities Support Act, will produce the amount needed to support the
13 total formula need of such local systems when added to state aid
14 appropriated by the Legislature and other actual receipts of local
15 systems described in section 79-1018.01; and (c) the local effort rate
16 yield for such school fiscal years shall be determined by multiplying
17 each local system's total adjusted valuation by the local effort rate.
18 Sec. 2. Original section 79-1015.01, Revised Statutes Cumulative
19 Supplement, 2018, is repealed.
20 Sec. 3. Since an emergency exists, this act takes effect when
21 passed and approved according to law.
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Statutes affected:
Introduced: 79-1015.01