COUNTY AND SCHOOL TAX LIMITATIONS

Initiative Act. Creates state board of authorization; requires each county officer to file financial statements with governing body of county which shall submit same with budget to such state board before making tax levy; limits yearly increase in amounts raised thereby to five per cent of amount produced preceding year unless great amount authorized by such board or electors; makes special provisions for school matters, regulating such five per cent increase by average daily attendance; declares governing body of any political subdivision may subject same to provisions hereof; authorizes legislature to amend or repeal act