SB 5958 - DIGEST

     Declares that the purpose of these funds is to mitigate the effect that above average property tax rates might have on the ability of a school district to raise local revenues to supplement the state's basic program of education.  These funds serve to equalize the property tax rates that individual taxpayers would pay for such levies, to provide tax relief to taxpayers in high tax rate school districts, and to provide state assistance to a school district where a majority of the voters voting on a levy proposition supported the proposition, but the levy failed to pass.

     Provides that local effort assistance funds shall be distributed to qualifying districts as follows:  (1) Thirty percent in April;

     (2) twenty-three percent in May;

     (3) two percent in June;

     (4) seventeen percent in August;

     (5) nine percent in October;

     (6) seventeen percent in November; and

     (7) two percent in December.

     Takes effect January 1, 2000.