Nebraska senators approved the school funding portion of the governor’s property tax relief plan. LB 1331 would increase the amount of foundational aid paid to public school districts.It would go from $1,500 per student to $3,000 per student.The bill would also adjust the school funding formula known as TEEOSA, so districts do not lose out on aid as valuations change.It would also take the property tax credit and send it directly to schools, so that way people would no longer have to file to get relief.Supporters said the only way they can do this is with the money generated by LB 388, the sales tax bill that passed its first reading on Tuesday. Nebraska Gov. Jim Pillen warned senators that if the package fails, he’ll call a special session. “So, we’re going to get property tax fixed, whatever it takes. If that means, you know, we just start, but that means we’re here till Christmas. That’s what it means,” said Pillen.Both LB 1331 and LB 388 still have to pass two more readings before going to the governor’s desk.Click here for the latest headlines from KETV NewsWatch 7
Nebraska senators approved the school funding portion of the governor’s property tax relief plan.
LB 1331 would increase the amount of foundational aid paid to public school districts.
It would go from $1,500 per student to $3,000 per student.
The bill would also adjust the school funding formula known as TEEOSA, so districts do not lose out on aid as valuations change.
It would also take the property tax credit and send it directly to schools, so that way people would no longer have to file to get relief.
Supporters said the only way they can do this is with the money generated by LB 388, the sales tax bill that passed its first reading on Tuesday.
Nebraska Gov. Jim Pillen warned senators that if the package fails, he’ll call a special session.
“So, we’re going to get property tax fixed, whatever it takes. If that means, you know, we just start, but that means we’re here till Christmas. That’s what it means,” said Pillen.
Both LB 1331 and LB 388 still have to pass two more readings before going to the governor’s desk.
