Section 1. Dissolution; referendum revenue. Provides that the treatment of referendum revenue of attaching districts is the same for voluntary or involuntary dissolutions.

Effective date. Makes the section effective immediately.

Section 2.  Eagle Valley reorganization operating debt. Authorizes Eagle Valley school district to issue general obligation bonds without voter approval in an amount not to exceed its reorganization operating debt plus the cost of issuing the bonds. Requires that the bonds be repaid within 10 years by the taxable property located within the boundaries of the Eagle Valley school district prior to its reorganization.

Effective date. Makes the section effective immediately.

Section 3. Eagle Valley dissolution and attachment transition aid. Provides aid for fiscal year 2018 for any school district to which is attached territory of the former Eagle Valley school district. The aid for a school district is in proportion to the number of students enrolling in the district who were enrolled in kindergarten through grade six in the Eagle Valley school district in the previous year.

Effective date. Makes this section effective July 1, 2017, if the Eagle Valley school district is dissolved on or before that date.

Section 4. Repealer. Repeals the statutory provision relating to the referendum revenue and authority for districts to which is attached territory of a district that is dissolved voluntarily.

Effective date. Makes the section effective immediately.