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Superintendent: SB1 and revenue forecast could cut local school dollars, complicate future borrowing
Summary
Board heard a presentation on recent state legislation (SB1) and a revised revenue forecast that officials said will reduce local revenue streams, remove local income tax sharing with schools by 2028 and could push districts toward referendum requirements for debt.
The MSD Wabash County Schools superintendent told the board on Monday that Senate Bill 1 and a new state revenue forecast are likely to reduce property-tax-derived revenue available to local schools and could complicate future borrowing decisions.
The presentation said SB1 “removes local income tax dollars that the county can provide [to] school districts” and that those dollars “will go away, in 2028,” the superintendent said. The superintendent added the April revenue forecast shows an estimated loss in state revenue of more than $2,000,000,000 over the next two…
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