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Panel debates return of "swept" education property tax revenue; DRA and education differ on timing and warrant language
Summary
Lawmakers discussed multiple bills to change how 'excess' statewide education property tax is handled, questioned the definition and timing of the DRA's warrant, and voted to retain or table several bills while asking the Department of Revenue Administration to clarify deposit and timing language
The Education Funding Committee spent a lengthy session on proposals to change how municipalities remit excess statewide education property tax — commonly called the "swept" amount — and how those funds should be handled in state accounting.
Why it matters: The bills would alter whether towns remit only ‘‘excess’’ statewide education property tax to the state or remit the entire tax amount and let the state reconcile and redistribute adequacy aid. Those choices affect municipal cash flow, the Department of Revenue Administration’s (DRA) billing and warrant timing, and the mechanics of how adequacy aid and education trust funds are reconciled.
Bruce Knueer, identified in the transcript as “supervisor, municipal bureau” at the Department of Revenue Administration, told the committee that one technical correction is needed in the analysis for one bill. "I think the analyst had noted just a small question about... it mentioned being deposited into the general fund, and I think the legislation called for as it would be,…
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