----------------------------------------------------------------------------


 9  AN ACT relating to the financing of school districts; concerning the prop-
10    erty tax levy required therefor; amending K.S.A. 1996 Supp. 72-6431
11    and repealing the existing section; also repealing K.S.A. 1996 Supp.
12    72-6431a.
13
14  Be it enacted by the Legislature of the State of Kansas:
15    Section 1.  K.S.A. 1996 Supp. 72-6431 is hereby amended to read as
16  follows: 72-6431. (a) The board of each district shall levy an ad valorem
17  tax upon the taxable tangible property of the district in the school years
18  specified in subsection (b) for the purpose of:
19    (1)  Financing that portion of the district's general fund budget which
20  is not financed from any other source provided by law;
21    (2)  paying a portion of the costs of operating and maintaining public
22  schools in partial fulfillment of the constitutional obligation of the legis-
23  lature to finance the educational interests of the state; and
24    (3)  with respect to any redevelopment district established prior to July
25  1, 1996, pursuant to K.S.A. 12-1771, and amendments thereto, paying a
26  portion of the principal and interest on bonds issued by cities under au-
27  thority of K.S.A. 12-1774, and amendments thereto, for the financing of
28  redevelopment projects upon property located within the district.
29    (b)  The tax required under subsection (a) shall be levied at a rate of
30  35 mills in the 1996-97 school year, 33 mills in the 1997-98 school year
31  and not exceeding 31 mills in the 1998-99 school year the rate determined
32  and published by the director of accounts and reports on or before Oc-
33  tober 15, 1997, in the 1997-98 school year, which is equal to the quotient
34  of the revenue received pursuant to this subsection in the 1996-97 school
35  year less $100,000,000 divided by the assessed valuation of taxable tan-
36  gible property statewide.
37    (c)  The proceeds from the tax levied by a district under authority of
38  this section, except the proceeds of such tax levied for the purpose of
39  paying a portion of the principal and interest on bonds issued by cities
40  under authority of K.S.A. 12-1774, and amendments thereto, for the fi-
41  nancing of redevelopment projects upon property located within the dis-
42  trict, shall be deposited in the general fund of the district.
43    (d)  On June 1 of each year, the amount, if any, by which a district's
HB 2529
                                     

 1  local effort exceeds the amount of the district's state financial aid, as
 2  determined by the state board, shall be remitted to the state treasurer.
 3  Upon receipt of any such remittance, the state treasurer shall deposit the
 4  same in the state treasury to the credit of the state school district finance
 5  fund.
 6    (e)  No district shall proceed under K.S.A. 79-1964, 79-1964a or 79-
 7  1964b, and amendments to such sections.
 8    Sec. 2.  K.S.A. 1996 Supp. 72-6431 and 72-6431a are hereby re-
 9  pealed.
10    Sec. 3.  This act shall take effect and be in force from and after its
11  publication in the statute book.