Bill No.: SF0058                  Drafter:  DRN

LSO No.:  07LSO-0231              Effective Date:  2/15/2007

Enrolled Act No.:  SEA0017

Chapter No.:       46

Prime Sponsor:     Joint Education Interim Committee

Catch Title:       Community colleges-property tax expenditures.

Subject:  Additional 5-mill community college district property tax.

Summary/Major Elements:

· Applies to the additional voter-approved five-mill community college district property tax above the four-mill required levy to participate in state aid and dedicated to district support and operations;

· Removes the restriction imposed upon the use of revenues collected from the additional optional district five-mill levy;

· Under current law, proceeds from the additional levy are restricted to emergency needs of the district, covering unanticipated revenue shortfalls, expenses associated with an unexpected variation in student enrollment and specific district program needs;

· Under the bill, revenues from any additional levy may be used for district support and operations and upon approval of the Community College Commission and legislature, for district capital outlay needs;

· The expanded use of levy proceeds applies to mills approved by voters on and after April 1, 2007;

· Revenues generated under the additional levy are required to be included within the district's reported revenues in its biennial funding report to the Commission.