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.

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Plain-English Summary

This bill would lower the foundation property tax rate for Iowa school districts from $5.40 to $4.04 per thousand dollars of assessed valuation. It also repeals the education savings account program, which provides funds for students attending nonpublic schools. These changes would take effect for school budget years beginning on or after July 1, 2026.

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