A bill for an act relating to school district funding provisions, including reducing the foundation property tax and repealing the education savings account program, and including effective date and applicability provisions.

Summary

The measure reduces the standard foundation property tax to $5.44 per $1,000 of assessed value, sets phased‑in rates for districts that reorganize or dissolve, and updates the calculation of farm tax credits. It also repeals the education savings account program by removing its statutory authority. The changes affect all Iowa school districts, agricultural land owners, and families who could have used education savings accounts.

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