Amends, repeals, and adds to existing law to provide property tax relief by establishing and funding the School District Facilities Fund to provide moneys to school districts in lieu of property taxes, to increase the homeowner exemption, to increase circuitbreaker eligibility, to revise distributions for the State Public Defense Fund, and to reduce the number of dates on which school levy and bond elections may be held.

The purpose of this legislation to provide immediate, ongoing, and permanent property tax relief. This is accomplished by providing $300 million to school districts distributed based on average daily attendance. School districts are required to use funds in the order of priority as follows: (1) payment of school bonds (2) payment of school levies (3) payment of expenses necessary to provide for safe school facilities and address life, safety, and health issues (4) saved for future school facility construction needs. This bill eliminates 2 of the 4 election dates that districts can run elections. The bill also increases the homeowners exemption to $150,000. The bill increases the limitations for individuals to qualify for the circuit breaker. The cities and counties obligation to fund public defense is eliminated and the funding source is permanently moved to an ongoing source of revenue.