SB 2267 Summary

• Amends education foundation aid funding formula to remove local property tax contributions from state aid calculations effective after June 30, 2025, replacing them with a fixed sixty mills calculation on taxable valuation.

• Increases per-weighted student unit state aid payments from $9,839 to $10,036 for the 2021-22 school year and $10,036 for 2022-23 and thereafter, with gradual baseline funding reductions of 15% annually starting in 2021-22.

• Eliminates the requirement for school districts to include the dollar amount of adjustment from section 15.1-27-04.3 in their levy calculations for taxable years beginning after December 31, 2024.

• Repeals section 15.1-27-04.3 of the North Dakota Century Code relating to local property tax effort adjustments.

• Creates two effective dates: one effective through June 30, 2025 and another effective after June 30, 2025, with section 2 becoming effective for taxable years beginning after December 31, 2020.