NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.

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(Parenthesis ( ) Indicate Expenditure Decreases)

(Parenthesis ( ) Indicate Revenue Decreases)

Duplicates/Conflicts with/Companion to/Relates to

SOURCES OF INFORMATION

State Investment Council (SIC)

State Department of Education (SDE)

SUMMARY

Synopsis of Bill

This bill requests the State Investment Council, Legislative Finance Committee and Legislative Education Study Committee to participate with the Education Initiatives and Accountability Task Force to study statutory and constitutional mechanisms to ensure that public school support retains the proportion of general tax revenues at FY99 levels.

The memorial also requests that the study make recommendations to the 2001 Legislature for statutory and constitutional mechanisms to maximize and enhance support for public school capital outlay from the severance tax permanent fund and to enhance funding increases from the land grant permanent fund.

Significant Issues

SDE is currently under district court order to address inequities in public school capital outlay funding created because the majority of public school capital outlay funding is based on local district wealth. Those districts heavily impacted by federal lands have lower property values with which to support their respective capital outlay programs.

FISCAL IMPLICATIONS

None.

OTHER SUBSTANTIVE ISSUES

The memorial does not direct participation by the SDE, but the agency indicates it could participate in such a study within current fiscal resources.

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