26RS HB 560

Actions

Last Action	02/04/26: to Committee on Committees (H)
Title	AN ACT relating to funding school districts that have a high percentage of tax-exempt property.
Bill Documents	Introduced
Bill Request Number	1679
Sponsor	E. Hancock
Summary of Original Version	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.
Index Headings of Original Version	Budget And Financial Administration - Payment in lieu of tax, school districts with high percentage of tax-exempt real property Education, Finance - Payment in lieu of tax, school districts with high percentage of tax-exempt real property State Agencies - Finance and Administration Cabinet, school district, payment in lieu of tax contract Taxation - Payment in lieu of tax, school districts with high percentage of tax-exempt real property Taxation, Property - Payment in lieu of tax, school districts with high percentage of tax-exempt real property