as introduced - 93rd Legislature (2023 - 2024) Posted on 01/05/2023 09:52am
A bill for an act
relating to education finance; increasing referendum equalization aid for certain
special schools; appropriating money; amending Minnesota Statutes 2022, section
126C.17, subdivision 6.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2022, section 126C.17, subdivision 6, is amended to read:
(a) 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 pupil unit to $567,000.
(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 pupil unit to $290,000.
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(d) Notwithstanding paragraphs (a) to (c), the referendum equalization levy for a special
school district located wholly outside the boundaries of a city of the first class equals the
district's referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $1,000,000.
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This section is effective for revenue for fiscal year 2024 and later.
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The sums indicated in this section are
appropriated from the general fund to the Department of Education in the fiscal years
designated.
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For additional referendum equalization aid
under section 1:
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$ new text end |
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1,973,000 new text end |
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..... new text end |
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2024 new text end |
|
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$ new text end |
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1,521,000 new text end |
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..... new text end |
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2025 new text end |