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Senator Klaus asks committee to hold LB354 and launch study of Municipal Equalization Fund
Summary
Sponsor Senator Stan Klaus said he will hold LB354 in committee and pursue an interim study of the Municipal Equalization Fund after conversations with municipal leaders; city managers warned of potential lost revenue if the fund were narrowed.
Senator Stan Klaus told the Revenue Committee that his intent with LB 354 was to limit municipal equalization funds to larger communities but that draft language landed on a broader set of class 1 cities than he intended. He asked the committee to hold the bill so he can pursue an interim study.
Why it matters: The Municipal Equalization Fund provides targeted state aid to cities whose local levies cannot be reduced below statutory lids; changes could shift…
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