If House Bill 253 becomes law, local school officials say the impact on local school budgets will be significant.As regional news focuses on student transfers from two failing urban school districts, another storm cloud is brewing for districts across the state as legislators consider overriding Gov. Jay Nixon’s veto of HB 253 that would phase-in state tax reductions over the next 10 years.The measure changes the laws regarding the streamlined sales and use tax agreement, tax amnesty, the community development district tax, income tax, sales and use taxes, use tax nexus, and the transportation development tax.Leaders from both R-II and R-III – and from districts throughout the state – have voiced strong concerns about how schools and communities will be affected if HB 253 passes, citing sizable cuts in budgets that would need to be made up for by local taxpayers without the risk of cutting programs.“We start with the fact that the foundation formula isn’t being fully funded,” said Warren County R-III District Superintendent Dr. Jim Chandler, referring to the withholding in state education funds that Gov. Nixon initiated due to uncertainty around HB 253.Nixon said the cuts were a “down payment” on HB 253, and that because the budget had to be finalized before a possible veto override, he needed to “prepare for the worst” and begin planning for large cuts.“If the bill goes through, R-III’s portion of the prorated statewide revenue cuts would be $1,015,481,” Chandler said. “That’s about $329 per student.”Chandler said schools like R-III have to be prepared for the possibility that Gov. Nixon’s veto of the bill could be overturned.“When we’re already underfunded from what we’ve been promised with the foundation formula, we have to fight to not lose the resources we have,” said Chandler, emphasizing the district’s growth in student population, up about 250 students in the last couple of years.R-II PreparesThe situation is similar at Wright City R-II.“If we use the estimates from DESE (Missouri Department of Elementary and Secondary Education), we could see a loss of between $445,000 and $771,000, depending on what assumptions you make about the bill and economic conditions,” said Wright City R-II Superintendent Dr. Chris Gaines.To recoup $445,000, Gaines said it would take an operating levy increase of 25 cents just to gain those funds back, and a 44-cent levy increase to recover a $771,000 reduction.“If you look at the tax cuts in the bill from the standpoint of how a family with a median income and median home value, the levy increase would be at or above the state tax cut,” Gaines said.“The burden of funding local districts would shift from the state to the local taxpayer.”Gaines said R-II now is about 60 percent locally funded, with the state contributing about 30 percent.“We’re concerned about where this (override) is going to land.”Gaines said his position is to “focus on sound, pragmatic public policy, and not ideology that puts us into stalemate situations.”Veto SessionThe Legislature will reconvene Sept. 11 for its annual veto session. At that time, both chambers of the General Assembly will be required to vote to override the veto of HB 253.A veto override requires 109 votes, or two-thirds of the 163 elected state representatives.The bill passed the House during the legislative session with 103 “yes” votes.If the House votes to override the veto, the issue will then go to the Senate where 23 votes are required to override the governor’s veto. The bill received 24 “yes” votes in the Senate when it was approved during the legislative session.