|BILL AS INTRODUCED||2007-2008|
Introduced by Senator Ayer of Addison County and Senator Giard of Addison District
Subject: Taxation; property tax; excess spending
Statement of purpose: This bill proposes to subtract from the excess spending penalty of Act 60 tuition paid by a school district which does not maintain a school.
AN ACT RELATING TO REMOVAL OF TUITION COSTS FROM THE EXCESS SPENDING PENALTY OF ACT 60
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 32 V.S.A. § 5401(12) is amended to read:
(12) "Excess spending" means:
per-equalized per equalized pupil amount of:
(i) the district's education spending, plus any amount required to be added from a capital construction reserve fund under 24 V.S.A. § 2804(b); minus
(ii) the portion of education spending which is approved school capital construction spending or deposited into a reserve fund under 24 V.S.A. § 2804 to pay future approved school capital construction costs, including that portion of tuition paid to an independent school designated as the public high school of the school district pursuant to 16 V.S.A. § 827 for capital construction costs by the independent school which has received approval from the state board of education, using the processes for preliminary approval of public school construction costs pursuant to 16 V.S.A. § 3448(a)(2); and minus
(iii) tuition paid on behalf of a resident student under section 823 or 824 of Title 16;
(B) in excess of 125 percent of the statewide average district education spending per equalized pupil in the prior fiscal year, as determined by the commissioner of education.
The Vermont General Assembly
115 State Street