HB 2529--
Session of 1997
By Committee on Taxation

9 AN ACT relating to the financing of school districts; concerning the prop- 10 erty tax levy required therefor; amending K.S.A. 1996 Supp. 72-6431 11 and repealing the existing section; also repealing K.S.A. 1996 Supp. 12 72-6431a. 13 14 Be it enacted by the Legislature of the State of Kansas: 15 Section 1. K.S.A. 1996 Supp. 72-6431 is hereby amended to read as 16 follows: 72-6431. (a) The board of each district shall levy an ad valorem 17 tax upon the taxable tangible property of the district in the school years 18 specified in subsection (b) for the purpose of: 19 (1) Financing that portion of the district's general fund budget which 20 is not financed from any other source provided by law; 21 (2) paying a portion of the costs of operating and maintaining public 22 schools in partial fulfillment of the constitutional obligation of the legis- 23 lature to finance the educational interests of the state; and 24 (3) with respect to any redevelopment district established prior to July 25 1, 1996, pursuant to K.S.A. 12-1771, and amendments thereto, paying a 26 portion of the principal and interest on bonds issued by cities under au- 27 thority of K.S.A. 12-1774, and amendments thereto, for the financing of 28 redevelopment projects upon property located within the district. 29 (b) The tax required under subsection (a) shall be levied at a rate of 30 35 mills in the 1996-97 school year, 33 mills in the 1997-98 school year 31 and not exceeding 31 mills in the 1998-99 school year the rate determined 32 and published by the director of accounts and reports on or before Oc- 33 tober 15, 1997, in the 1997-98 school year, which is equal to the quotient 34 of the revenue received pursuant to this subsection in the 1996-97 school 35 year less $100,000,000 divided by the assessed valuation of taxable tan- 36 gible property statewide. 37 (c) The proceeds from the tax levied by a district under authority of 38 this section, except the proceeds of such tax levied for the purpose of 39 paying a portion of the principal and interest on bonds issued by cities 40 under authority of K.S.A. 12-1774, and amendments thereto, for the fi- 41 nancing of redevelopment projects upon property located within the dis- 42 trict, shall be deposited in the general fund of the district. 43 (d) On June 1 of each year, the amount, if any, by which a district's HB 2529

 1  local effort exceeds the amount of the district's state financial aid, as
 2  determined by the state board, shall be remitted to the state treasurer.
 3  Upon receipt of any such remittance, the state treasurer shall deposit the
 4  same in the state treasury to the credit of the state school district finance
 5  fund.
 6    (e)  No district shall proceed under K.S.A. 79-1964, 79-1964a or 79-
 7  1964b, and amendments to such sections.
 8    Sec. 2.  K.S.A. 1996 Supp. 72-6431 and 72-6431a are hereby re-
 9  pealed.
10    Sec. 3.  This act shall take effect and be in force from and after its
11  publication in the statute book.