Amends and adds to existing law to provide for state support of discretionary spending by school districts.

This bill provides a method for the legislature to appropriate additional funds for K-12 schools and reduce local propertytaxes. Schoolsthathaveasupplementalmaintenanceandoperationlevyarerequiredtouse75%ofthe funds they receive to reduce the levy. After reducing the levy, or if a school has no levy, any funds remaining can be used at the discretion of the School Board. If a school takes the funds one year but does not reduce the levy, the school is ineligible for these funds for two (2) years.