Iowa SF167 establishes state and categorical percents of growth for school funding starting July 1, 2025, and modifies property tax replacement.

Iowa SF167 sets the state percent of growth at 2% for the budget year beginning July 1, 2025, and the categorical state percent of growth at 2% for the same period. It modifies the calculation for property tax replacement payments, which are now based on the school district's weighted enrollment and the per pupil property tax replacement amount. The bill also establishes specific state and categorical percents of growth for earlier budget years, affecting how supplemental state aid is calculated for various funding supplements. The changes take effect upon enactment.

Iowa SF167 establishes state and categorical percents of growth for school funding starting July 1, 2025, and modifies property tax replacement.

Iowa SF167 sets the state percent of growth at 2% for the budget year beginning July 1, 2025, and the categorical state percent of growth at 2% for the same period. It modifies the calculation for property tax replacement payments, which are now based on the school district's weighted enrollment and the per pupil property tax replacement amount. The bill also establishes specific state and categorical percents of growth for earlier budget years, affecting how supplemental state aid is calculated for various funding supplements. The changes take effect upon enactment.