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MI SB0473
Bill
AI Summary
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Amends MCL 380.1211 to update school district millage calculations by replacing references to "foundation allowance" with "target foundation allowance" for the 2018-2019 state fiscal year and beyond.
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Applies the change specifically to subsection (3), which governs how much millage a school district can levy after 1994 and ensures annual increases do not exceed the increase in the target foundation allowance.
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Maintains existing exemptions for principal residences, qualified agricultural property, qualified forest property, supportive housing property, public school academy property, and industrial personal property from school operating millage taxes.
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Takes effect October 1, 2019, with the act ordered to take immediate effect upon approval by the Governor on September 17, 2020.
Legislative Description
Education: financing; calculation of number of mills to be levied for school operating purposes; update to reflect change in terminology to target foundation allowance. Amends sec. 1211 of 1976 PA 451 (MCL 380.1211).
Education: financing
Last Action
Assigned Pa 0156'20 With Immediate Effect
9/22/2020