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HF 579

as introduced - 88th Legislature (2013 - 2014) Posted on 02/14/2013 01:56pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 02/14/2013

Current Version - as introduced

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A bill for an act
 relating to education; providing property tax relief; increasing and indexing
equalization levies; amending Minnesota Statutes 2012, sections 123B.53, subdivision 5; 126C.10, subdivisions 29, 32; 126C.17, subdivision 6, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2012, section 123B.53, subdivision 5, is amended to read:


Subd. 5.

Equalized debt service levy.

(a) The equalized debt service levy of a
district equals the sum of the first tier equalized debt service levy and the second tier
equalized debt service levy.

(b) A district's first tier equalized debt service levy equals the district's first tier
debt service equalization revenue times the lesser of one or the ratio ofdeleted text begin :deleted text end new text begin the district's
adjusted net tax capacity per resident marginal cost pupil unit to state first tier debt service
equalizing factor. The state first tier debt service equalizing factor equals 150 percent of
the quotient derived by dividing the total adjusted net tax capacity of all school districts in
the state for the year before the levy is certified by the total number of adjusted marginal
cost pupil units in all school districts in the state in the year before the levy is certified.
new text end

deleted text begin (1) the quotient derived by dividing the adjusted net tax capacity of the district for
the year before the year the levy is certified by the adjusted pupil units in the district for
the school year ending in the year prior to the year the levy is certified; to
 deleted text end

deleted text begin (2) $3,049.
 deleted text end

(c) A district's second tier equalized debt service levy equals the district's second
tier debt service equalization revenue times the lesser of one or the ratio ofdeleted text begin :deleted text end new text begin the district's
adjusted net tax capacity per resident marginal cost pupil unit to state first tier debt service
equalizing factor. The state first tier debt service equalizing factor equals 200 percent of
the quotient derived by dividing the total adjusted net tax capacity of all school districts in
the state for the year before the levy is certified by the total number of adjusted marginal
cost pupil units in all school districts in the state in the year before the levy is certified.
new text end

deleted text begin (1) the quotient derived by dividing the adjusted net tax capacity of the district for
the year before the year the levy is certified by the adjusted pupil units in the district for
the school year ending in the year prior to the year the levy is certified; to
 deleted text end

deleted text begin (2) $7,622.
 deleted text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal year 2015
and later.
 new text end

Sec. 2.

Minnesota Statutes 2012, section 126C.10, subdivision 29, is amended to read:


Subd. 29.

Equity levy.

To obtain equity revenue for fiscal year deleted text begin 2005deleted text end new text begin 2015new text end and later,
a district may levy an amount not more than the product of its equity revenue for the
fiscal year times the lesser of one or the ratio of its referendum market value per resident
marginal cost pupil unit to deleted text begin $476,000deleted text end new text begin the state first tier referendum equalizing factor as
defined in section 126C.17, subdivision 6anew text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal year 2015
and later.
 new text end

Sec. 3.

Minnesota Statutes 2012, section 126C.10, subdivision 32, is amended to read:


Subd. 32.

Transition levy.

To obtain transition revenue for fiscal year 2005 and
later, a district may levy an amount not more than the product of its transition revenue
for the fiscal year times the lesser of one or the ratio of its referendum market value per
resident marginal cost pupil unit to deleted text begin $476,000deleted text end new text begin the state first tier referendum equalizing
factor as defined in section 126C.17, subdivision 6anew text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal year 2015
and later.
 new text end

Sec. 4.

Minnesota Statutes 2012, section 126C.17, subdivision 6, is amended to read:


Subd. 6.

Referendum equalization levy.

(a) deleted text begin For fiscal year 2003 and later,
deleted text end A district's referendum equalization levy equals the sum of the first tier referendum
equalization levy and the second tier referendum equalization levy.

(b) A district's first tier referendum equalization levy equals the district's first tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident marginal cost pupil unit to deleted text begin $476,000deleted text end new text begin the state first
tier referendum equalizing factor as derived in subdivision 6anew text end .

(c) A district's second tier referendum equalization levy equals the district's second
tier referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident marginal cost pupil unit to deleted text begin $270,000deleted text end new text begin the state second
tier referendum equalizing factor as derived in subdivision 6anew text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal year 2015
and later.
 new text end

Sec. 5.

Minnesota Statutes 2012, section 126C.17, is amended by adding a subdivision
to read:


new text begin Subd. 6a. new text end

new text begin State referendum equalizing factors. new text end

new text begin (a) The state first tier referendum
equalizing factor equals 150 percent of the quotient derived by dividing the total
referendum market value of all school districts in the state for the year before the levy is
certified by the total number of resident marginal cost pupil units in all school districts in
the state for the school year ending in the year before the levy is certified.
 new text end

new text begin (b) The state second tier referendum equalizing factor equals 100 percent of the
quotient derived by dividing the total referendum market value of all school districts in
the state for the year before the levy is certified by the total number of resident marginal
cost pupil units in all school districts in the state for the school year ending in the year
before the levy is certified.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal year 2015
and later.
 new text end