School capital projects fund tax rate.

Authors: Senator Randall Head, Senator Luke Kenley

Co-authors: Senator Jeff Raatz, Senator Earline Rogers, Senator Dennis Kruse, Senator Lonnie Randolph

Sponsors: Representative William Friend

Co-Sponsors: Representative Alan Morrison

Advisors: Senator Luke Kenley, Senator Greg Taylor, Senator Brandt Hershman, Senator Chip Perfect

Digest

Provides that when calculating the maximum rate for a school corporation's capital projects fund for taxes due and payable in calendar year 2016, the first step in the calculation (the previous year's maximum rate) shall be the larger of: (1) the actual maximum rate for the school corporation's capital projects fund for the previous year; or (2) the maximum rate that would have been established for the school corporation's capital project fund for the previous year if the formula used in current law to determine the maximum rate had been in effect for each calendar year after 2006.