Bill > LB986

This bill adopts the School District Property Tax Limitation Act, which establishes limits on the annual increase in school districts' property tax requests. The bill defines key terms such as "property tax request authority," "non-property-tax revenue," and "student enrollment." It requires the Nebraska Department of Education to calculate each school district's property tax request authority annually based on a formula that considers factors like the Consumer Price Index, student enrollment changes, and changes in non-property-tax revenue. The bill allows school districts to exceed their property tax request authority in certain circumstances, such as to pay for approved bonds or with voter or school board approval. The bill also requires school districts to report information to the Department of Education and allows the Department to withhold state aid if a district is not complying with the limits.