For the 2020 property tax year, the existing statute corrects the
total program mill levies for school districts that are not subject to constitutional property tax revenue restrictions but whose mill levies were
erroneously reduced. Each school district that levies a higher number of mills as a result of the correction must grant a tax credit for the number of mills by which the levy is increased.
The bill requires the department of education to adopt a correction
schedule to begin phasing out the tax credits in the 2021 property tax year. The correction schedule must apply consistently to each affected school district; must require each district's tax credit to phase out as quickly as possible, but by no more than one mill per year; and must ensure that the tax credits are fully phased out in 19 years.
