AI-generated summary. We recommend consulting the bill text for important decisions.

Utah school districts currently impose a property tax called the "minimum basic tax" as a required condition of receiving state funding for basic school operations. This bill restructures how that tax money flows: instead of staying with the school district, the revenue collected from the minimum basic tax gets sent to the state, deposited into a newly created Minimum Basic Tax Special Revenue Fund, and then redistributed back to each school district within 35 days — with the state guaranteeing that the total amount returned covers the full cost of the district's basic school program. The bill also requires that property tax notices sent to homeowners include a specific plain-language explanation of this process, stating that the minimum basic tax is remitted to the state, which then sends equivalent funds back to the district along with any additional state dollars needed to fully fund the school program.