13-16-7.2. Maximum taxes--Pledge of taxes.

Starting with taxes payable in 2021, a school district is limited to the maximum taxes allowed pursuant to § 13-16-7 or three thousand four hundred dollars for each enrolled student as determined in the fall enrollment count set forth in § 13-13-10.1 for the prior school year, whichever is less. For 2022 and subsequent years, the maximum amount for each enrolled student shall increase by the lesser of three percent or the index factor, as defined in § 10-13-38.

If a school district has irrevocably pledged taxes collected to the payment of principal and interest on installment purchase contracts or capital outlay certificates entered into or issued pursuant to § 13-16-6 or 13-16-6.2 or lease-purchase agreements or other arrangements with the Health and Educational Facilities Authority prior to July 1, 2016, that school district may raise taxes allowed pursuant to § 13-16-7 and this section in an amount necessary to fund those payments and obligations and to provide additional funding of up to three thousand four hundred dollars for each enrolled student as determined in the fall enrollment count set forth in § 13-13-10.1. In no year may the annual tax levy provided in this section exceed the levy authorized under § 13-16-7.

Source: SL 2018, ch 94, § 2; SL 2020, ch 55, § 1.