HB3760 - Tennessee - Education

Companion Bill SB2737. Education - Provides for distribution of city taxes levied for educational purposes in cities in which two or more K-12 school systems operate; fixes the boundaries of the Memphis City School System at the boundaries of the system as they exist on July 1, 2008. - Amends TCA Title 49 and Chapter 30 of the Acts of 1868-69. Fiscal Summary for HB3760 / *SB2737Other Fiscal Impact: The city of Memphis will share a portion of its tax revenue collected for educational purposes with Shelby County. This shift in funds is estimated to be $2,615,300 in FY08-09 and $11,605,600 if students are included in subsequent years. Bill Summary for HB3760 / *SB2737 Generally under present law, for each LEA there is levied for current operation and maintenance not more than one school tax for all such grades as may be included in the LEA.[...]

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