Putnam County Community School District would see an additional $288,730 under legislation co-sponsored by State Sen. Sue Rezin. The legislation financially helps school districts that rely more heavily on Personal Property Replacement Tax (PPRT) dollars and that are currently losing out on critical funding due to PPRT diversions, something currently facing Putnam County.
For example, the diversion of PPRT dollars will cost the Putnam County Community School District $695,052 in revenue during Fiscal year 2018. Rezin’s legislation would help them close that gap with the additional $288,730.
“For the past couple of years, PPRT dollars have been diverted to help pay for other bills, to the detriment of Putnam County,” Rezin said. “Because these school districts don’t receive nearly has much revenue from the state as other districts, they rely more on those PPRT dollars. The legislation will help them at least make up some of the difference now, as we figure out a long term solution so this doesn’t happen in the future.”
Under Senate Bill 2260, in Fiscal Year 2018, each school district that receives 13 percent or more of its total revenues in 2016 from PPRT, will receive an additional amount equal to 11 percent of the total amount distributed to the school district from the PPRT Fund.
“PPRT is a highly complicated issue, but the bottom line is these schools are getting a raw deal right now because funding that is supposed to go to them is going elsewhere,” Rezin said. “This solution will at least help a little. It’s a heck of a lot better than losing $700,000 for Putnam County. I look forward to getting this legislation passed as soon as possible.”
Senate Bill 2260 would impact a total of 23 school districts throughout the state. The legislation has already passed a Senate Committee and is set for a full vote in the Senate.