CS/CS/HB 1343 Summary

• Expands the purposes for which school capital outlay surtax revenues may be used to include maintenance, renovation, or repair of existing school facilities and capital technology equipment upgrades.

• Requires school boards to covenant that they will decrease discretionary capital outlay millage by an amount equal to or greater than expected surtax revenues each fiscal year in order to use surtax revenues for the additional purposes.

• Mandates that school districts levying the surtax before July 1, 2012 must obtain voter approval through referendum before using surtax revenues for the newly authorized additional purposes.

• Surtax rate remains capped at 0.5 percent and continues to fund fixed capital expenditures, bond indebtedness, land acquisition, design, engineering costs, and technology implementation for school facilities.

• Effective date: July 1, 2012.