HCS/SS/SCS/SB 926 - RECALCULATED LEVY - School districts which are required, pursuant to Article X, Section 22 of the Missouri Constitution, to make reassessment tax rate roll backs receive state aid based upon a higher, "recalculated levy" to ensure that the district receives no less state aid than the district received based upon the tax rate prior to the roll back. Under current law, the recalculated levy lasts until five years following such time as the district votes to raise its levy back up to or in excess of the recalculated levy.

This act revises the "recalculated levy" provision such that all school districts will continue to receive state aid based upon inclusion of the recalculated levy, even if the district votes to raise its levy up to or above the recalculated levy.

This provision is also contained in SB 785 and in HCS/SB 573 from 2000.

LINE 14 "AT RISK" AID - The act also provides that a district shall receive no less funding from the Line 14 At-Risk categorical entitlement (lines 14(a) and 14(b) of the school aid formula) than the district would receive if it had an operating levy of no greater than $2.75. Currently, some districts with tax rates above $2.75 receive less line 14 revenues per pupil than they would receive if the district levied $2.75 or less.

This provision is also contained in SB 785 and in HCS/SB 573 from 2000.

DEDUCTION OF STATE AID OVERPAYMENT - These provisions pertains to state school aid deductions due to prior overpayments. When a district erroneously receives excess state aid, current law, Sections 163.036 and 163.091, RSMo, require deduction of a like amount of state aid in the following year and, if the amount exceeds 5% of the district's apportionment, requires deduction of interest at a rate of 6%.

This act provides that districts with year-round elementary school schedules, such as Francis Howell School District, may opt to have overpayment of state aid exceeding 5% of district apportionment deducted along with accrued interest in equal monthly portions over a period requested by the district but no longer than five school years. Interest will be charged at 6% for such payment excesses, whether the deduction is made in one year or over a longer period.

This provision is also contained in HCS/SB 573.
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