(1)State aid payments pursuant to the Tax Equity and Educational Opportunities Support Act and payments of core services and technology infrastructure funds pursuant to section 79-1241.03 shall be adjusted when property within the boundaries of a school district or educational service unit is transferred to another school district or educational service unit in response to annexation of the transferred property by a city or village.
(2)(a) For a school district to qualify for additional state aid pursuant to this section, the school district from which property is being transferred shall apply on a form prescribed by the State Department of Education on or before August 20 preceding the first school fiscal year for which the property will not be available for taxation for the school dis
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(1) State aid payments pursuant to the Tax Equity and Educational Opportunities Support Act and payments of core services and technology infrastructure funds pursuant to section 79-1241.03 shall be adjusted when property within the boundaries of a school district or educational service unit is transferred to another school district or educational service unit in response to annexation of the transferred property by a city or village.
(2)(a) For a school district to qualify for additional state aid pursuant to this section, the school district from which property is being transferred shall apply on a form prescribed by the State Department of Education on or before August 20 preceding the first school fiscal year for which the property will not be available for taxation for the school district's general fund levy.
(b) For an educational service unit to qualify for additional core services and technology infrastructure funds pursuant to this section, the educational service unit from which property is being transferred shall apply on a form prescribed by the State Department of Education on or before August 20 preceding the first school fiscal year for which the property will not be available for taxation for the educational service unit's general fund levy.
(3)(a) Upon receipt of an application from a school district, the department, with the assistance of the Property Tax Administrator, shall calculate the amount of additional state aid, if any, that the local system, as defined in section 79-1003 , for the applicant school district would have received for such school fiscal year if the adjusted valuation for the transferred property had not been included in the adjusted valuation of such local system for the calculation of state aid for such school fiscal year. On or before September 20 of such school fiscal year, the department shall certify to the applicant school district the amount of additional state aid, if any, such school district will receive. Except as otherwise provided in this subdivision, if such school district receives a lump-sum payment pursuant to subsection (2) of section 79-1022 , such lump-sum payment shall be increased by the amount of additional state aid. Except as otherwise provided in this subdivision, if such school district does not receive a lump-sum payment pursuant to subsection (2) of section 79-1022 , state aid payments shall be increased by one-tenth of the amount of additional state aid for each of the ten state aid payments for such school fiscal year. If a portion of the total reduction calculated pursuant to subdivision (4)(a) of this section for local systems receiving valuation in the transfer of property that is the subject of the application is delayed until future years, the additional state aid to be paid in the school fiscal year described in subdivision (2)(a) of this section shall be reduced by the amount of the total reduction that is delayed until future years. The amount of the reduction shall be paid as additional aid in the next school fiscal year.
(b) Upon receipt of an application from an educational service unit, the department, with the assistance of the Property Tax Administrator, shall calculate the amount of additional core services and technology infrastructure funds, if any, that such educational service unit would have received for such school fiscal year if the adjusted valuation for the transferred property had not been included in the adjusted valuation of such educational service unit for the calculation of core services and technology infrastructure funds for such school fiscal year. On or before September 20 of such school fiscal year, the department shall certify to the applicant educational service unit the amount of additional core services and technology infrastructure funds, if any, such educational service unit will receive. Except as otherwise provided in this subdivision, payments of core services and technology infrastructure funds shall be increased by one-tenth of the amount of any additional core services and technology infrastructure funds for each of the ten payments of core services and technology infrastructure funds for such school fiscal year. If a portion of the total reduction calculated pursuant to subdivision (4)(b) of this section for an educational service unit receiving valuation in the transfer of property that is the subject of the application is delayed until future years, the additional state aid or core services and technology infrastructure funds to be paid to the applicant educational service unit in the school fiscal year described in subdivision (2)(b) of this section shall be reduced by the amount of the total reduction that is delayed until future years. The amount of the reduction shall be paid as additional core services and technology infrastructure funds to such educational service unit in the next school fiscal year.
(4)(a) The state aid payments shall be reduced for the school districts of each receiving local system. An amount equal to the additional state aid calculated pursuant to subdivision (3)(a) of this section for the local system of an applicant school district shall be attributed to the local systems receiving valuation in such transfer based upon the ratio of the adjusted valuation received by each local system divided by the total adjusted valuation transferred from the applicant school district. For any school district of a receiving local system that receives a lump-sum payment pursuant to subsection (2) of section 79-1022 , such lump-sum payment shall be reduced by the amount attributed to the receiving local system. For any school district of a receiving local system that does not receive a lump-sum payment pursuant to subsection (2) of section 79-1022 , state aid payments shall be reduced by one-tenth of the amount attributed to such receiving local system for each of the ten state aid payments for such school fiscal year. If the total reduction is greater than the total state aid payments for such school fiscal year, the remainder shall be subtracted from state aid payments in future school fiscal years until the total reduction has been subtracted from state aid payments. On or before September 20 of such school fiscal year, the department shall certify to each school district of the receiving local system the amount of the reduction in state aid.
(b) Core services and technology infrastructure funds shall be reduced for each receiving educational service unit. An amount equal to the additional core services and technology infrastructure funds calculated pursuant to subdivision (3)(b) of this section for the applicant educational service unit shall be attributed to the educational service units receiving valuation in such transfer based upon the ratio of the adjusted valuation received by each educational service unit divided by the total adjusted valuation transferred from the applicant educational service unit. Core services and technology infrastructure funds shall be reduced by one-tenth of the amount attributed to any such receiving educational service unit for each of the ten payments of core services and technology infrastructure funds for such school fiscal year. If the total reduction is greater than the total payments of core services and technology infrastructure funds for any such educational service unit for such school fiscal year, the remainder shall be subtracted from payments of core services and technology infrastructure funds in future school fiscal years until the total reduction has been subtracted from such payments. On or before September 20 of such school fiscal year, the department shall certify to the receiving educational service units the amount of the reduction in core services and technology infrastructure funds.
(5) For purposes of the final calculation of state aid for school districts pursuant to section 79-1065 , the adjusted valuation of the property that was transferred shall also be transferred for purposes of adjusted valuation for the final calculation of state aid. For determining adjustments in state aid pursuant to section 79-1065 , the final calculation of state aid shall be compared to the state aid certified for such school fiscal year combined with any adjustments in state aid payments and transfers from other districts pursuant to this section.