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Equalization Aid


  1. Introduction to Tutorial
  2. Formula Chart
  3. Equalization Aid ♣
    1. Overview
    2. Formula Need
    3. Formula Resources ♣
      1. Introduction
      2. Sum of Yield from Local Effort Rate
      3. Net Option Funding
      4. Allocated Income Tax Funds ♣
      5. Minimum Levy Adjustment
      6. Other Actual Receipts
  4. Additional Funding
  5. Other Factors
  6. Total State Aid

SOURCE

Allocated Income Tax Funds

One of the major components of LB 1059 (1990) was to dedicate a portion of the state’s income tax revenue for public education.  The idea was to add at least some measure of local income to the state aid formula.  At one time, school district’s received a rebated amount of income tax funds proportionate to the income tax liability of the school district.  In 1996 the Legislature "capped" the amount of income tax rebate funds to the 1992-93 appropriation level (LB 1050).
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