Bill No.: SF0088 Drafter: DRN

LSO No.: 06LSO-0281 Effective Date:

Enrolled Act No.: SEA0046

Chapter No.: 83

Prime Sponsor: Senator Decaria

Catch Title: School finance-local tax payments.

Subject: Allowable school district operating balances and cash reserves for purposes of foundation program computations.

Summary/Major Elements:

· Provides flexibility to school districts in accounting for revenues received from settlements of protested amounts attributable to district property tax levies;

· Flexibility is provided by a deferral of these revenues from the 15% limit imposed upon operating balances and cash reserves in computing foundation program entitlements;

· The deferral is authorized for a period up to one year.