HB2779 Summary

• Sets the state equalization assistance property tax rate for tax year 2020 at $0.2974, reducing from the 2019 rate of $0.4566.

• Appropriates $100,000,000 from the state general fund in fiscal year 2020-2021 to the Department of Education for basic state aid.

• Applies retroactively to tax years beginning from and after June 30, 2020.