77-3446 Base limitation, defined. - Nebraska Statutes

77-3446. Base limitation,defined.Base limitation means the budget limitation rateapplicable to school districts and the limitation on growth of restrictedfunds applicable to other political subdivisions prior to any increases inthe rate as a result of special actions taken by a supermajority of any governingboard or of any exception allowed by law. The base limitation is two and one-halfpercent until adjusted, except that the base limitation for school districtsfor school fiscal years 2009-10,2011-12, and 2012-13is one and one-half percent andthe base limitation for school districts for school fiscal year 2010-11 istwenty-five hundredths of one percent. The base limitation maybe adjusted annually by the Legislature to reflect changes in the prices ofservices and products used by school districts and political subdivisions. SourceLaws 1998, LB 989, § 15; Laws 2001, LB 365, § 1; Laws 2003, LB 540, § 3; Laws 2009, LB545, § 2; Laws 2009, First Spec. Sess., LB5, § 1.Effective Date: November 21, 2009