HF 24

as introduced - 84th Legislature, 2005 1st Special Session (2005 - 2005) Posted on 12/15/2009 12:00am

A bill for an act
relating to education finance; increasing the basic
formula allowance; restoring early childhood family
education program revenue; amending Minnesota Statutes
2004, section 126C.10, subdivision 2.

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

Section 1.

Minnesota Statutes 2004, section 126C.10,
subdivision 2, is amended to read:

Subd. 2.

Basic revenue.

The basic revenue for each
district equals the formula allowance times the adjusted
marginal cost pupil units for the school year. deleted text begin The formula
allowance for fiscal year 2001 is $3,964. The formula allowance
for fiscal year 2002 is $4,068. deleted text end The formula allowance for
fiscal year 2003 new text begin through fiscal year 2005 is $4,601. The
formula allowance for fiscal year 2006 is $4,831. The formula
allowance for fiscal year 2007 new text end and subsequent years is
deleted text begin $4,601 deleted text end new text begin $5,073 new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for
fiscal year 2006.
new text end