___________________ moved that SB 152 be amended as follows:
" Section 2.That § 13-13-72.1 be amended to read as follows:
13-13-72.1. Any adjustments in the levies specified in § 10-12-42 made pursuant to §§ 13-13-71
and 13-13-72 shall be based on maintaining the relationship between statewide local effort as a
percentage of statewide local need in the fiscal year succeeding the fiscal year in which the
adjustment is made. However, for fiscal year 2013 and each year thereafter, if the levies specified
in § 10-12-42 are not adjusted to maintain this relationship, the per student allocation as defined in
§ 13-13-10.1(4) shall be reduced to maintain the relationship between statewide local effort as a
percentage of statewide local need. Any adjustment to the levy for agricultural property shall be
based upon the change in the statewide agricultural taxable valuation and the reclassification of
agricultural property to another property classification. Any adjustment to the levies for
nonagricultural property and owner-occupied single-family dwellings shall be based upon the change
in the statewide nonagricultural property and owner-occupied single-family dwellings taxable
valuations. However, if any new project with a total taxable valuation of one hundred fifty million
dollars or more is constructed, the levies shall be proportionately decreased for agricultural property,
nonagricultural property, and owner-occupied single-family dwellings. In addition to the adjustments
in the levies provided by this section, the levies shall also be annually adjusted as necessary to reduce
the portion of local need paid by local effort by an amount equal to nine million dollars from those
funds transferred into the property tax reduction fund pursuant to § 10-50-52 subsequent to July 1,
2007. In addition to the adjustments in the levies provided by this section, the levies for
nonagricultural property and owner-occupied single-family dwellings shall also be adjusted as
necessary to account for the additional increase in the total assessed value for nonagricultural
property and owner-occupied single-family dwellings pursuant to the phasing out and repeal of the
provisions provided in § 10-6-74. ".