Section 1. Creation of capital project referendum account.  Makes technical change related to the equalized capital project referendum revenue.

Section 2. Capital project referendum.  Clarifies that a district’s voters may authorize an increase to the operating capital revenue.  Provides that the increased revenue be stated on the ballot as an amount per adjusted pupil unit for elections held after July 1, 2015.  Makes other technical changes.

Section 3. Capital project referendum equalization levy.  Equalizes the capital project referendum levy.  Sets the equalizing factor at 125 percent of the state average adjusted net tax capacity per adjusted pupil unit.

Section 4. Capital project referendum equalization aid.  Provides that capital project referendum equalization aid equals the difference between capital project referendum revenue and capital project referendum equalization levy.

Section 5. Appropriations.  Appropriates money for capital project referendum equalization aid for fiscal year 2017.

Effective dates. Sections 1-4 of the bill are effective for revenue beginning in fiscal year 2017 (taxes payable in 2016).