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HF 467

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
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Current Version - as introduced

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A bill for an act
 relating to education; providing property tax relief; increasing and indexing
debt service equalization revenue; increasing and indexing equalization of the
health and safety, deferred maintenance and operating capital levies amending
Minnesota Statutes 2006, sections 123B.53, subdivisions 4, 5, 6, by adding
a subdivision; 123B.57, subdivision 4; 123B.591, subdivision 3; 126C.10,
subdivision 13a.

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

Section 1.

Minnesota Statutes 2006, section 123B.53, subdivision 4, is amended to read:


Subd. 4.

Debt service equalization revenue.

deleted text begin (a)deleted text end The debt service equalization
revenue of a district equals deleted text begin the sum of the first tier debt service equalization revenue and
the second tier debt service equalization revenue.
deleted text end

deleted text begin (b) The first tier debt service equalization revenue of a district equalsdeleted text end the greater
of zero or the eligible debt service revenue minus the amount raised by a levy of deleted text begin 15deleted text end new text begin fivenew text end
percent times the adjusted net tax capacity of the district deleted text begin minus the second tier debt service
equalization revenue of the districtdeleted text end .

deleted text begin (c) The second tier debt service equalization revenue of a district equals the greater
of zero or the eligible debt service revenue, excluding alternative facilities levies under
section 123B.59, subdivision 5, minus the amount raised by a levy of 25 percent times the
adjusted net tax capacity of the district.deleted text end

Sec. 2.

Minnesota Statutes 2006, section 123B.53, subdivision 5, is amended to read:


Subd. 5.

Equalized debt service levy.

deleted text begin (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.
 deleted text end

deleted text begin (b)deleted text end A district's deleted text begin first tierdeleted text end equalized debt service levy equals the district's deleted text begin first tierdeleted text end debt
service equalization revenue times the lesser of one or the ratio of:

(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

(2) deleted text begin $3,200deleted text end new text begin the state debt service equalizing factornew text end .

deleted text begin (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 of:
 deleted 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) $8,000.
 deleted text end

Sec. 3.

Minnesota Statutes 2006, section 123B.53, subdivision 6, is amended to read:


Subd. 6.

Debt service equalization aid.

deleted text begin (a)deleted text end A district's debt service equalization
aid deleted text begin is the sum of the district's first tier debt service equalization aid and the district's
second tier debt service equalization aid.
deleted text end

deleted text begin (b) A district's first tier debt service equalization aiddeleted text end equals the difference between
the district's deleted text begin first tierdeleted text end debt service equalization revenue and the district's deleted text begin first tierdeleted text end equalized
debt service levy.

deleted text begin (c) A district's second tier debt service equalization aid equals the difference between
the district's second tier debt service equalization revenue and the district's second tier
equalized debt service levy.
 deleted text end

Sec. 4.

Minnesota Statutes 2006, section 123B.53, is amended by adding a subdivision
to read:


new text begin Subd. 8. new text end

new text begin State debt service equalizing factor. new text end

new text begin The state debt service equalizing
factor equals 125 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 year the levy is certified
by the total number of adjusted pupil units in all school districts in the state for the school
year ending in the year prior to the year the levy is certified.
 new text end

Sec. 5.

Minnesota Statutes 2006, section 123B.57, subdivision 4, is amended to read:


Subd. 4.

Health and safety levy.

To receive health and safety revenue, a district
may levy an amount equal to the district's health and safety revenue as defined in
subdivision 3 multiplied by the lesser of one, or the ratio of the quotient derived by
dividing the adjusted net tax capacity of the district for the year preceding the year the
levy is certified by the adjusted marginal cost pupil units in the district for the school year
to which the levy is attributable, to deleted text begin $2,935deleted text end new text begin the state debt service equalizing factor as
defined in section 123B.53, subdivision 8new text end .

Sec. 6.

Minnesota Statutes 2006, section 123B.591, subdivision 3, is amended to read:


Subd. 3.

Deferred maintenance levy.

To obtain deferred maintenance revenue for
fiscal year 2008 and later, a district may levy an amount not more than the product of its
deferred maintenance revenue for the fiscal year times the lesser of one or the ratio of its
adjusted net tax capacity per adjusted marginal cost pupil unit to deleted text begin $5,900deleted text end new text begin the state debt
service equalizing factor as defined in section 123B.53, subdivision 8new text end .

Sec. 7.

Minnesota Statutes 2006, section 126C.10, subdivision 13a, is amended to read:


Subd. 13a.

Operating capital levy.

To obtain operating capital revenue for fiscal
year 2007 and later, a district may levy an amount not more than the product of its operating
capital revenue for the fiscal year times the lesser of one or the ratio of its adjusted net tax
capacity per adjusted marginal cost pupil unit to the operating capital equalizing factor.
The operating capital equalizing factor equals $22,222 for fiscal year 2006, deleted text begin anddeleted text end $10,700
for fiscal year 2007new text begin , and the greater of $22,222 or the state debt service equalizing factor
as defined in section 123B.53, subdivision 8, for fiscal year 2008new text end and later.

Sec. 8. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 to 7 are effective for taxes payable in 2008 and thereafter.
 new text end