AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO LIMITATION ON PUBLIC SCHOOLS' TAX RATE AFTER GENERAL REASSESSMENT.

This Act removes the 10% increase in school property tax revenue and replaces it with a school district that can demonstrate that it will suffer a loss of projected revenue resulting from the general reassessment being allowed to increase its rate of taxation up to 2% per year for 5 years or until the district's projected revenue loss per year has been fully realized, whichever comes first.