TO:	Honorable Kent Grusendorf, Chair, House Committee on Public School Finance, Select
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	HJR1 by Grusendorf (Proposing a constitutional amendment creating the education excellence fund, authorizing a state ad valorem tax for public education, authorizing state video lottery games that may be operated by licensed racetrack operators or recognized Indian tribes, and authorizing the legislature to limit the maximum average increase in the appraised value of residence homesteads for ad valorem tax purposes to three percent or more.), As Introduced

HJR1 proposes a constitutional amendment creating the education excellence fund, authorizing a state ad valorem tax for public education, authorizing state video lottery games that may be operated by licensed racetrack operators or recognized Indian tribes, and authorizing the legislature to limit the maximum average increase in the appraised value of residence homesteads for ad valorem tax purposes to three percent or more.  The bill, if enacted will have no actuarial effect because it does not propose to change the funding or obligations of any public retirement system.