CHICAGO -- Gov. John Engler of Michigan yesterday signed into law a historic measure that eliminates the ability of school districts to levy certain property taxes.

The law wipes out $6.3 billion of property tax revenues for school districts' operating budgets, beginning next July 1, the start of fiscal 1995 for the districts.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.