TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | SJR9 by Ogden (Proposing a constitutional amendment authorizing a state property tax for public education, prohibiting school district property taxes for maintenance purposes, and authorizing a school district property tax for educational enrichment.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2005 | $0 |
2006 | $0 |
2007 | $0 |
2008 | $0 |
2009 | $0 |
Fiscal Year | Probable Revenue (Loss) from School Districts |
---|---|
2005 | $0 |
2006 | ($16,509,208,869) |
2007 | ($17,401,036,332) |
2008 | ($18,137,100,169) |
2009 | ($18,942,387,417) |
The resolution would authorize the legislature to levy ad valorem taxes to fund public elementary and secondary schools. The rate levied could not exceed $1.00 for each $100 of taxable value. This resolution would authorize those districts to levy ad valorem taxes for enriched educational programs. The enrichment tax rate could not exceed $0.15 for each $100 of taxable value. In addition, the resolution would disallow local school districts to levy ad valorem taxes for maintenance of public schools. Local schools districts would still have the authority to levy ad valorem taxes for buildings and equipment.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JK, JO, WP, DLBe, SD
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