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HF 895

as introduced - 88th Legislature (2013 - 2014) Posted on 03/11/2013 03:58pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 02/25/2013

Current Version - as introduced

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A bill for an act
 relating to education finance; removing obsolete language from the calculation of
referendum equalization revenue; amending Minnesota Statutes 2012, section
126C.17, subdivision 5.

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

Section 1.

Minnesota Statutes 2012, section 126C.17, subdivision 5, is amended to read:


Subd. 5.

Referendum equalization revenue.

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

(b) A district's first tier referendum equalization revenue equals the district's first
tier referendum equalization allowance times the district's resident marginal cost pupil
units for that year.

(c) deleted text begin For fiscal year 2006, a district's first tier referendum equalization allowance
equals the lesser of the district's referendum allowance under subdivision 1 or $500. For
fiscal year 2007, a district's first tier referendum equalization allowance equals the lesser
of the district's referendum allowance under subdivision 1 or $600.
deleted text end

deleted text begin For fiscal year 2008 and later,deleted text end A district's first tier referendum equalization allowance
equals the lesser of the district's referendum allowance under subdivision 1 or $700.

(d) A district's second tier referendum equalization revenue equals the district's
second tier referendum equalization allowance times the district's resident marginal cost
pupil units for that year.

(e) deleted text begin For fiscal year 2006, a district's second tier referendum equalization allowance
equals the lesser of the district's referendum allowance under subdivision 1 or 18.6 percent
of the formula allowance, minus the district's first tier referendum equalization allowance.
For fiscal year 2007 and later,deleted text end A district's second tier referendum equalization allowance
equals the lesser of the district's referendum allowance under subdivision 1 or 26 percent
of the formula allowance, minus the district's first tier referendum equalization allowance.

(f) Notwithstanding paragraph (e), the second tier referendum allowance for a
district qualifying for secondary sparsity revenue under section 126C.10, subdivision 7, or
elementary sparsity revenue under section 126C.10, subdivision 8, equals the district's
referendum allowance under subdivision 1 minus the district's first tier referendum
equalization allowance.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2013.
 new text end