53F-3 - State Funding — Capital Outlay Programs
Title 53F > 53F-3
Sections (5)
General Provisions
53F-3-101 - Title.
This chapter is known as “State Funding — Capital Outlay Programs.”
53F-3-102 - Definitions.
As used in this chapter: 53F-3-102(1) “ADM” or “pupil in average daily membership” is as defined in Section 53F-2-102. 53F-3-102(2) “Base tax effort rate” means the average of:
the highest combined capital levy rate; and the average combined capital levy rate for the school districts statewide. 53F-3-102(3) “Combined capital levy rate” means a rate that includes the sum of the following property tax levies: the debt service levy authorized in Section 11-14-310; and the voted capital outlay leeway authorized in Section 53F-8-402; or the capital local levy authorized in Section 53F-8-303; and the debt service levy authorized in Section 11-14-310. 53F-3-102(4) “Derived net taxable value” means the quotient of:
the total property tax collections from April 1 through the following March 31 for a school district for the calendar year preceding the March 31 date; divided by the school district’s total tax rate for the calendar year preceding the March 31 referenced in Subsection (4)(a). 53F-3-102(5) “Highest combined capital levy rate” means the highest combined capital levy rate imposed by a school district within the state for a fiscal year. 53F-3-102(6) “Property tax base per ADM” means the quotient of:
a school district’s derived net taxable value; divided by the school district’s ADM. 53F-3-102(7) “Property tax yield per ADM” means:
the product of: a school district’s derived net taxable value; and the base tax effort rate; divided by the school district’s ADM. 53F-3-102(8) “Statewide average property tax base per ADM” means the quotient of:
the sum of all school districts’ derived net taxable value; divided by the sum of all school districts’ ADM.
Capital Outlay Programs
53F-3-201 - Capital outlay programs — Use of funds.
A school district may only use the money provided under this chapter for school district capital outlay and debt service purposes.
53F-3-202 - Capital Outlay Foundation Program created — Distribution formulas — Allocations.
53F-3-202(1) As used in this section:“ADM” or “pupil in average daily membership” means the same as that term is defined in Section 53F-2-102 excluding a pupil fully enrolled in an online education program for at least 180 days.”Foundation guarantee level per ADM” means a minimum revenue amount per ADM generated by the base tax effort rate, including the following:the revenue generated locally from a school district’s combined capital levy rate; andthe revenue allocated to a school district by the state board in accordance with Section 53F-3-203.”Qualifying school district” means a school district with a property tax yield per ADM less than the foundation guarantee level per ADM.”Small school district” means a school district that has fewer than 1,000 pupils in average daily membership. 53F-3-202(2) There is created the Capital Outlay Foundation Program to provide capital outlay funding to a school district based on a district’s local property tax effort and property tax yield per student compared to a foundation guarantee funding level. 53F-3-202(3) The state board shall determine the foundation guarantee level per ADM that fully allocates the funds appropriated to the state board for distribution under this section.In determining the foundation guarantee level per ADM and a school district’s allocation of funds under this section, the state board shall use data from the fiscal year that is two years prior to the fiscal year the school district receives the allocation, including the:number of pupils in average daily membership;tax rates; andderived net taxable value. 53F-3-202(4) By June 1, a county treasurer shall report to the state board the actual collections of property taxes in the school districts located within the county treasurer’s county for the period beginning April 1 through the following March 31 immediately preceding that June 1. 53F-3-202(5) If a qualifying school district imposes a combined capital levy rate that is greater than or equal to the base tax effort rate, the state board shall allocate to the qualifying school district an amount equal to the product of the following:the qualifying school district’s ADM; andan amount equal to the difference between the following:the foundation guarantee level per ADM, as determined in accordance with Subsection (3); andthe qualifying school district’s property tax yield per ADM. 53F-3-202(6) If a qualifying school district imposes a combined capital levy rate less than the base tax effort rate, the state board shall allocate to the qualifying school district an amount equal to the product of the following:the qualifying school district’s ADM;an amount equal to the difference between the following:the foundation guarantee level per ADM; andthe qualifying school district’s property tax yield per ADM; anda percentage equal to:the qualifying school district’s combined capital levy rate; divided bythe base tax effort rate. 53F-3-202(7) The state board shall allocate:a minimum of 100,000 to each small school district with a property tax base per ADM that is:greater than the statewide average property tax base per ADM; andless than or equal to two times the statewide average property tax base per ADM; anda minimum of $50,000 to each small school district with a property tax base per ADM that is:greater than two times the statewide average property tax base per ADM; andless than or equal to five times the statewide average property tax base per ADM.The state board shall incorporate the minimum allocations described in Subsection (7)(a) in its calculation of the foundation guarantee level per ADM determined in accordance with Subsection (3).
53F-3-204 - School Building Revolving Account.
The School Building Revolving Account is created as described in Section 53F-9-206 , to provide short-term help to school districts to meet district needs for school building construction and renovation.