Brief ⁽¹⁾

SB 68, as amended, would amend KSA 2000 Supp. 79-201x to expand from $20,000 to $30,000 the residential property tax exemption from the mandatory school district general fund property tax levy and to extend that exemption for two years.

Background

The $20,000 residential exemption from the school finance levy was first effective in tax year 1997. The original bill would have extended the exemption for two more years at that level. The House Taxation Committee amended the bill to increase the exemption to $30,000.

The estimated reduction in local effort for school finance purposes relative to amounts used in the Governor's Budget and future projections associated therewith would be as follows:

1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/fulltext.cgi