53A-17a-135 - Minimum basic tax rate -- Certified revenue levy. - Utah Statutes

53A-17a-135. Minimum basic tax rate -- Certified revenue levy.
(1) (a) In order to qualify for receipt of the state contribution toward the basic programand as its contribution toward its costs of the basic program, each school district shall impose aminimum basic tax rate per dollar of taxable value that generates $273,950,764 in revenuesstatewide.
(b) The preliminary estimate for the 2010-11 minimum basic tax rate is .001513.
(c) The State Tax Commission shall certify on or before June 22 the rate that generates$273,950,764 in revenues statewide.
(d) If the minimum basic tax rate exceeds the certified revenue levy as defined in Section53A-17a-103, the state is subject to the notice requirements of Section 59-2-926.
(2) (a) The state shall contribute to each district toward the cost of the basic program inthe district that portion which exceeds the proceeds of the levy authorized under Subsection (1).
(b) In accord with the state strategic plan for public education and to fulfill itsresponsibility for the development and implementation of that plan, the Legislature instructs theState Board of Education, the governor, and the Office of Legislative Fiscal Analyst in each ofthe coming five years to develop budgets that will fully fund student enrollment growth.
(3) (a) If the proceeds of the levy authorized under Subsection (1) equal or exceed thecost of the basic program in a school district, no state contribution shall be made to the basicprogram.
(b) The proceeds of the levy authorized under Subsection (1) which exceed the cost ofthe basic program shall be paid into the Uniform School Fund as provided by law.

Amended by Chapter 3, 2010 General Session