59-2-924.4 - Adjustment of the calculation of the certified tax rate for certain divided school districts. - Utah Statutes

59-2-924.4. Adjustment of the calculation of the certified tax rate for certain dividedschool districts.
(1) As used in this section:
(a) "Capital outlay increment" means the amount of revenue equal to the difference between:
(i) the amount of revenue generated by a levy of .0006 per dollar of taxable value within aqualifying divided school district during a fiscal year; and
(ii) the amount of revenue the qualifying divided school district received during the same fiscalyear from the distribution described in Section 53A-2-118.3.
(b) "Contributing divided school district" means a school district located within a qualifyingdivided school district that in a fiscal year receives less revenue from the distribution described inSection 53A-2-118.3 than it would have received during the same fiscal year from a levy imposedwithin the school district of .0006 per dollar of taxable value.
(c) "Divided school district" means a school district from which a new school district is created.
(d) "New school district" means a school district:
(i) created under Section 53A-2-118.1;
(ii) that begins to provide educational services after July 1, 2008; and
(iii) located in a qualifying divided school district.
(e) "Qualifying divided school district" means a divided school district:
(i) located within a county of the second through sixth class; and
(ii) with a new school district created under Section 53A-2-118.1 that begins to provideeducational services after July 1, 2008.
(f) "Qualifying fiscal year" means the first fiscal year that a new school district begins to provideeducational services.
(g) "Receiving divided school district" means a school district located within a qualifyingdivided school district that in a fiscal year receives more revenue from the distribution described inSection 53A-2-118.3 than it would have received during the same fiscal year from a levy imposedwithin the school district of .0006 per dollar of taxable value.
(2) A receiving divided school district shall decrease its certified tax rate calculated inaccordance with Section 59-2-924 by the amount required to offset the receiving divided schooldistrict's capital outlay increment for the prior fiscal year.
(3) Beginning with the fiscal year after the qualifying fiscal year, a contributing divided schooldistrict is exempt from the notice and public hearing provisions of Section 59-2-919 for the contributingdivided school district's certified tax rate calculated pursuant to Section 59-2-924 if:
(a) the contributing divided school district budgets an increased amount of ad valorem propertytax revenue exclusive of new growth as defined in Subsection 59-2-924(4) for the capital outlay levyrequired in Section 53A-2-118.3; and
(b) the increased amount of ad valorem property tax revenue described in Subsection (3)(a) isless than or equal to that contributing divided school district's capital outlay increment for the prior year.
(4) Beginning with the fiscal year after the qualifying fiscal year, a contributing divided schooldistrict is exempt from the notice and public hearing provisions of Section 59-2-919 for the contributingdivided school district's certified tax rate calculated pursuant to Section 59-2-924 if:
(a) the contributing divided school district budgets an increased amount of ad valorem propertytax revenue exclusive of new growth as defined in Subsection 59-2-924(4) for the capital outlay levy

described in Section 53A-2-118.3; and
(b) the increased amount of ad valorem property tax revenue described in Subsection (4)(a) isless than or equal to the difference between:
(i) the amount of revenue generated by a levy of .0006 per dollar of taxable value imposedwithin the contributing divided school district during the current taxable year; and
(ii) the amount of revenue generated by a levy of .0006 per dollar of taxable value imposedwithin the contributing divided school district during the prior taxable year.
(5) Regardless of the amount a school district receives from the revenue collected from the.0006 portion of the capital outlay levy described in Section 53A-2-118.3, the revenue generatedwithin the school district from the .0006 portion of the capital outlay levy described in Section53A-2-118.3 shall be considered to be budgeted ad valorem property tax revenues of the schooldistrict that levies the .0006 portion of the capital outlay levy for purposes of calculating the schooldistrict's certified tax rate in accordance with Section 59-2-924.

Amended by Chapter 204, 2009 General Session