Permits board of education to accept donations for purpose of providing property tax relief.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill allows school boards to create a trust fund to accept donations for the purpose of reducing property taxes for their districts. Donations received by the trust fund can then be used to offset local property tax collections. The bill outlines procedures for establishing and managing the trust fund, including trustee selection and reporting requirements to local tax collectors. It also clarifies that establishing a trust fund does not limit a district's ability to receive state aid.
Bill text
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Document of record
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Sponsors
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1 on record
Primary sponsor
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