Bill > LB506

This bill, the Property Tax Request Limitation Act, sets limits on the amount of property taxes that school districts in Nebraska can request. The key provisions include: defining important terms like "property tax request authority" and "non-property-tax revenue"; establishing a formula to calculate a school district's property tax request authority based on factors like student enrollment and inflation; allowing school districts to exceed the limit with voter approval or through a vote of the school board; requiring school districts to report their property tax request authority to the State Department of Education; and authorizing the Department to withhold state aid if school districts do not comply with the Act. The bill becomes operative on January 1, 2020.