Introduced
by
To allow school districts to use a “sinking fund” property tax to buy school buses. Under current law, schools may levy up to 3 mills for 10 years for a “sinking fund,” which is a permanent account that may only be used only for land purchases and the construction or (major) repair of school buildings, or (under recent expansions) to pay for “information technology” and school security measures.
Referred to the Committee on Tax Policy
