Bill Summary, LB 1290 (1994)


LB 1290 changes the duties of the Department of Revenue when computing valuation adjustments for each school district for purposes of distribution of state equalization aid under the Tax Equity and Educational Opportunities Support Act.  The bill requires the department to use current adjusted property valuations (which is the value placed on property by the appropriate county assessor for the current tax year) in the calculation of state equalization aid.  It also allows school district membership for the previous year to be used to make the final aid calculation.


LB 1290 passed with the emergency clause 41-0 and was approved by the Governor on April 19,1994.