WI AB792

Excludes expenditures authorized by operating or capital referenda from a school district's "shared cost" calculation used to determine state equalization aid, effective for referenda held after the bill becomes law

Applies to both general fund expenditures and debt service fund expenditures that are referendum-authorized

Creates a formula requiring districts to calculate referendum-authorized levy amounts and subtract any unused levy capacity before determining the exclusion amount

May increase state aid payments for "negative tertiary" school districts (those whose equalized property valuation exceeds the tertiary guaranteed valuation per member)

Takes effect beginning with the 2026-27 school year for state aid calculations