HF 2982 Summary

• Reduces first tier debt service equalization revenue levy from 15.74 percent to ten percent of adjusted net tax capacity for school districts.

• Maintains second tier debt service equalization revenue levy at 26.24 percent of adjusted net tax capacity.

• Changes second tier equalized debt service levy calculation from a fixed $8,000 threshold to 100 percent of the statewide adjusted net tax capacity equalizing factor under section 123B.535.

• All amendments are effective for revenue for fiscal year 2018 and later.