MS HB401

Transfers authority to increase school district ad valorem taxes from school boards to levying authorities, requiring school boards to request tax increases rather than implement them directly.

Levying authorities gain discretion to approve or deny millage rate increases requested by school boards, effective for the 2011 fiscal year forward.

Maintains aggregate receipts limitations on school district tax collections, excluding new construction properties, bond payments, legislatively mandated programs in their first year, and disaster recovery increases.

Requires school districts to advertise intentions to request tax increases in newspapers with specific formatting requirements (at least one-fourth page, 18-point type, black border) for two weeks before the budget hearing.

Modifies public notice language to specify that tax increases require levying authority approval rather than automatic school board implementation.