Bill No.: SJ0001 Drafter: DRN

LSO No.: 06LSO-0286 Effective Date:

Enrolled Act No.: SEJR0001

Chapter No.:

Prime Sponsor: Senator Coe

Catch Title: School finance-recapture limitation.

Subject: Constitutional provision for equalization of school district tax revenues through recapture of excess.

Summary/Major Elements:

· Current constitutional provisions limit the amount of school district tax revenues which may be recaptured by the state and redistributed to school districts through the school foundation program.

· The constitutional limitation is at 75% of the excess (a separate computation based upon the districts assessed valuation per ADM compared to the statewide average).

· The proposed constitutional amendment eliminates this limitation, which would allow all "excess" to be recaptured and redistributed to school districts.

· The proposition will be submitted to the electorate at the November 2006 general election.