A bill authored by State Senator Ryan Mishler (R-Bremen) to extend circuit breaker credits to the some schools’ transportation fund levies passed the Senate Wednesday by a vote 47-3.
Senate Bill 329 would extend the protected taxes waiver for schools for three additional years, 2017-2019. The bill would increase the eligibility criteria for a school to qualify for a waiver to a 20-percent circuit breaker loss in their transportation levy, instead of the current 10 percent.
In 2014, HEA 1062 allowed school corporations with a 10-percent circuit breaker loss in their transportation levy to have a waiver from protected taxes for up to three years.
“This bill will extend relief to schools experiencing large property-tax losses in their transportation funds,” Mishler said. “As assessed values increase, I am hopeful schools can move away from needing circuit-breaker relief.”
SB 329 will now move to the House of Representatives for further consideration.
