Overview: SSB 1053, "A bill for an act relating to school funding by establishing the state percent of growth and the categorical state percent of growth for the budget year beginning July 1, 2025, modifying provisions relating to the property tax replacement payments, and including effective date provisions." The bill is currently in the committee report approving stage and has been renumbered as SF 167. It was introduced on January 28, 2025.
Purpose and Intent: The primary purpose of this bill is to establish the state percent of growth and the categorical state percent of growth for the upcoming budget year, which will impact school funding. It also includes provisions related to property tax replacement payments.
Key Provisions:
- Sets the state percent of growth at 2.5% and the categorical state percent of growth at 2.5% for the budget year beginning July 1, 2025.
- Modifies the property tax replacement payment provisions to adjust the funding formula and distribution.
- Includes effective date provisions to ensure the changes are implemented in a timely manner.
Affected Parties and Impacts: The bill directly affects school districts and their budgets, as the state percent of growth and categorical state percent of growth directly impact the amount of state funding they receive. Taxpayers may also be affected by the changes to property tax replacement payments.
Procedural and Timeline Considerations: The bill has been approved by the committee and renumbered as SF 167. It will now move to the next stage of the legislative process, which may include further debate, amendments, and a vote by the full legislature.
