HB 560
AN ACT relating to funding school districts that have a high percentage of tax-exempt property.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
Amend KRS 45.021 to require the Finance and Administration Cabinet to contract with each local board of education of a district that has 65% or more in tax-exempt real property and that does not receive financial relief from other sources for the tax revenue lost from the tax-exempt property, to provide for recoupment to the board of at least 25% of the local board of education's lost tax revenue from the tax-exempt properties.
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