Education: financing; limitations on mills levied for school operating purposes; revise. Amends secs. 20 & 22a of 1979 PA 94 (MCL 388.1620 & 388.1622a).
The determination of state aid.
Requires five-year average of equalized property valuation be used in calculation of local share under State school funding formula.
Requires five-year average of equalized property valuation be used in calculation of local share under State school funding formula.
Requires five-year average of equalized property valuation be used in calculation of local share under State school funding formula.
The imposition of a flat income tax rate for individuals, estates, and trusts; to provide an effective date; and to provide an expiration date.
The option for a school district to reduce its local contribution deduction in the school state aid formula by the percentage of the local contribution which comes from in lieu of revenue.