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Senate debates plan to equalize school funding by freezing basic property-rate growth
Summary
Senate Bill 111, sponsored by Senator Osman, would freeze the state basic property-tax rate and redirect growth into a state 'growth account' to equalize per-student funding; senators debated local impacts, revenue neutrality and timing before advancing the bill to third-reading call.
Senator Osman presented second substitute Senate Bill 111, proposing a freeze of the state basic property-tax rate and the creation of a growth account to capture increases in basic-levy revenue for phased redistribution to school districts. The sponsor said the state’s unequal property-tax yields produce a roughly $196 million gap in per-student revenue and that the bill would address approximately half of…
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