Section 1. Doubles the nominal dollar level of the equalized debt service levy equalizing tiers and indexes the tiers to a new adjusted net tax capacity equalization factor (as defined by Sec. 2 below).
Section 2. Creates a new adjusted net tax capacity equalization factor, defined as the statewide average adjusted net tax capacity per pupil unit.
Section 3. Creates a new referendum market value equalization factor, defined as the statewide average referendum market value per pupil unit.
Section 4. Doubles the nominal dollar level of the referendum equalization levy equalizing tiers and indexes the tiers to a new adjusted net tax capacity equalization factor (as defined in Sec. 3 above).
Effective Date: Effective for revenue in fiscal year 2015. (Taxes payable in 2014)
BA:dv
|