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Approximately March 15 (to have time to publish and certify by April 15).

1. The district would determine the amount it has available and on hand from the SAVE funds or previous local option/supplemental amount, if the district is required to use the proceeds for property tax reduction. If the district is required to use its proceed first for tax reduction, those districts would accrue the payments until this time.
2. DEBT SERVICE LEVY. The levy listed by Code that must be reduced first is the debt service levy for payment of principal and interest on general obligation bonded indebtedness. The district would determine how much unreserved fund balance it has in its debt service fund reduced by how much is needed for principal and interest on bond retirements prior to the end of the current fiscal year. The district would also reduce this amount by any funds included in the debt service fund balance from any other governmental fund to retire that governmental fund's own long-term debt.
3. The district would determine how much money it needs to retire all bonds due to be retired in the next budget year, including both principal and interest.

1. If the amount calculated in step 3 is smaller than the amount calculated in step 2, the district would use the balance in the debt service fund to pay the principal and interest and would not levy for debt service nor use the SAVE revenues for this purpose.
2. If the amount calculated in step 3 is larger than the amount calculated in step 2, the district would use the balance in the debt service fund first to reduce the debt service levy. Then the district would use as much of the SAVE revenues calculated in step 1 as necessary to continue reducing the debt service levy until there is no debt service levy or until all SAVE funds are obligated for this purpose. The district would levy in debt service for the balance, without regard to any potential or anticipated new revenues to be received into either the debt service fund or the SAVE fund. If all SAVE funds are used at this point, no further tax reduction is required.
3. REGULAR PPEL. If SAVE funds remain in excess of that needed to reduce all debt service levy for the budget year, then the district would determine the dollar amount that the regular PPEL would generate (33 cents per thousand dollars of net taxable valuation plus TIF valuation).
4. The district would reduce its asking for regular PPEL, dollar for dollar, until all regular PPEL levy is reduced or until all remaining SAVE funds on hand have been used. If all SAVE revenues are used at this point, no further tax reduction is required, and the district would levy for the balance of unreduced regular PPEL.
5. VOTER-APPROVED PPEL . If SAVE funds remain in excess of that needed to reduce all debt service levy and regular PPEL for the budget year, the district would determine the dollar amount that the voter-approved PPEL would generate from both the property tax and income surtax portions for the budget year.
6. The district would reduce its asking for voter-approved PPEL, dollar for dollar, until all voter-approved PPEL levy and surtax is reduced or until all remaining SAVE funds on hand have been used.
7. If the SAVE funds are smaller than what would be generated from the voter-approved PPEL program (levy and surtax) then the district would reduce the PPEL levy and the PPEL surtax by the same percentage reduction, so the reductions are proportionate to what they would have been, had there been no reduction. However, the income surtax must be imposed in whole percentage points. So after calculating the reduction due to income surtax, the reduction will be rounded to achieve the nearest whole percent and the remaining reduced from the property tax levy. If all SAVE funds are used at this point, no further tax reduction is required, and the district would levy for the balance of unreduced voter-approved PPEL.
8. PERL. If SAVE funds remain in excess of that needed to reduce all debt service levy, all regular PPEL, and all voter-approved PPEL tax and income surtax for the budget year, the district would determine the dollar amount that the PERL would generate.
9. The district would reduce its asking for PERL, dollar for dollar, until all PERL levy is reduced or until all remaining SAVE funds on hand have been used. If all SAVE funds are used at this point, no further tax reduction is required, and the district would levy for the balance of unreduced PERL.
10. If SAVE funds remain in excess of that needed to reduce all debt service levy, all regular PPEL, all voter-approved PPEL, and all PERL, the district would calculate the dollar amount that the PERL levy would generate.
11. The district would reduce its asking for the PERL levy, dollar for dollar, until all PERL levy is reduced or until all remaining SAVE funds on hand have been used. If all SAVE funds are used at this point, no further tax reduction is required, and the district would levy for the balance of unreduced PERL levy.
12. If SAVE funds remain in excess of that needed to reduce all debt service levy, all regular PPEL, all voter-approved PPEL, and all PERL, the district may certify expenditures from those SAVE funds remaining and on hand for any authorized school infrastructure purpose of the school district.