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House Bill 521 closeout: staff says $62.8 million from old bond‑levy equalization returns to general fund
Summary
Legislative staff told JFAC that the 2021 change that ended the bond‑levy equalization program (House Bill 521) resulted in an existing cash balance of about $62.8 million that the state controller will transfer to the general fund as the program was closed.
Keith Bybee, division manager for budget policy analysis at the Legislative Services Office, told the committee that House Bill 521 closed out the old bond‑levy equalization program and that a remaining fund balance of about $62.8 million will be transferred back to the general fund.
Bybee explained that the bond levy equalization program previously provided state support to school districts to offset some…
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