Relating to: excluding expenditures funded by referenda from shared costs for the purpose of determining equalization aid for school districts. (FE)

AB 81 modifies how school districts calculate state aid by excluding certain referendum-funded expenditures from "shared costs." Specifically, it removes from the calculation any debt service costs from referenda approved after the bill's effective date that authorized borrowing of at least $50 million (unless the district's equalized valuation exceeded a specific threshold). This means school districts using referendum funds for large capital projects will not see those costs reduce their state equalization aid. The bill directly affects districts that have approved significant referendum bonds for school improvements or construction.