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Board hears finance report on SAVE, warns of potential $6.5M loss if state phases out school sales tax
Summary
Finance staff and the superintendent explained Iowa's SAVE revenue history and local uses, and warned that a proposed phase-out of the 1¢ school infrastructure sales tax could cut an estimated $6.5 million from district facility funding over the next decade.
The Lewis Central board received a finance report Jan. 19 that reviewed the history and local use of Iowa’s school infrastructure sales tax and discussed proposed state changes that could affect district funding.
Finance presenter (Unidentified Speaker 2) traced the program from county school infrastructure local option sales tax (SILO) to the statewide SAVE (Secure and Advanced Vision for Education) penny sales tax, which now distributes funds to school districts on a per-pupil basis. She emphasized that SAVE funds must be used for the…
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