South Dakota Senators showed their support for the three percent increase proposed by Gov. Dennis Daugaard with unanimous passage of Senate Bill 37.
The bill that supplies school districts with the proposed three percent funding increase, which would set the per-student allocation at $4,764 for the 2014-15 school year.
In addition to providing the three percent increase, Senate Bill 37 sets the property tax levies for a school district’s general fund for fiscal year 2015. The new levy levels accompany the bill to support the Cutler-Gabriel share of funding between the state and local effort, which is approximately 54 percent and 46 percent, respectively.
The commercial levy would be set at $9.10 per thousand dollars of valuation, down from $9.20, the agricultural levy would be set at $1.78 per thousand dollars of valuation, a decrease of 31 cents, and the owner occupied levy would be set at $4.25 per thousand dollars of valuation, a four cent decrease.
ASBSD supports the bill.
SB 37 now moves to the House for review.
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