85-2228 Minimum levy aid reduction; applicability. - Nebraska Statutes

85-2228. Minimum levy aid reduction; applicability.For fiscal year 2008-09 and for each fiscal year thereafter, a minimum levy aid reduction shall apply to any community college area that does not levy at least eighty percent of the local effort rate calculated pursuant to section 85-2224 for the fiscal year immediately preceding the fiscal year for which aid is being calculated.The minimum levy aid reduction shall equal the difference between the amount of revenue collected by the community college area as a result of its levy and the amount of revenue that would have been collected using eighty percent of the local effort rate in the prior fiscal year. The Department of Revenue shall reduce the amount of aid by an amount equal to the minimum levy aid reduction. SourceLaws 2007, LB342, § 28; Laws 2008, LB973, § 8.Effective Date: July 18, 2008Termination Date: June 30, 2011