HF 718

1st Engrossment - 89th Legislature (2015 - 2016) Posted on 04/14/2016 04:24pm

A bill for an act
relating to education finance; providing technical corrections and eliminating
obsolete language related to general education revenue; amending Minnesota
Statutes 2014, section 126C.10, subdivisions 3, 29, 33; Minnesota Statutes 2015
Supplement, section 126C.10, subdivision 2.

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

Section 1.

Minnesota Statutes 2015 Supplement, 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 pupil units for the school year. deleted text begin The formula allowance for
fiscal year 2015 is $5,831. deleted text end The formula allowance for fiscal year 2016 is $5,948. The
formula allowance for fiscal year 2017 and later is $6,067.

Sec. 2.

Minnesota Statutes 2014, section 126C.10, subdivision 3, is amended to read:

Subd. 3.

Compensatory education revenue.

(a) deleted text begin For fiscal year 2014, the
compensatory education revenue for each building in the district equals the formula
allowance minus $415 times the compensation revenue pupil units computed according
to section 126C.05, subdivision 3. For fiscal year 2015 and later, deleted text end The compensatory
education revenue for each building in the district equals the formula allowance minus
$839 times the compensation revenue pupil units computed according to section 126C.05,
subdivision 3. Revenue shall be paid to the district and must be allocated according to
section 126C.15, subdivision 2.

(b) When the district contracting with an alternative program under section 124D.69
changes prior to the start of a school year, the compensatory revenue generated by pupils
attending the program shall be paid to the district contracting with the alternative program
for the current school year, and shall not be paid to the district contracting with the
alternative program for the prior school year.

(c) When the fiscal agent district for an area learning center changes prior to the start
of a school year, the compensatory revenue shall be paid to the fiscal agent district for the
current school year, and shall not be paid to the fiscal agent district for the prior school year.

Sec. 3.

Minnesota Statutes 2014, section 126C.10, subdivision 29, is amended to read:

Subd. 29.

Equity levy.

To obtain equity revenue deleted text begin for fiscal year 2015 and later deleted text end , 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 pupil
unit to $510,000.

Sec. 4.

Minnesota Statutes 2014, section 126C.10, subdivision 33, is amended to read:

Subd. 33.

Transition aid.

deleted text begin (a) For fiscal year 2004, a district's transition aid equals
its transition revenue.
deleted text end

deleted text begin (b) For fiscal year 2005 and later, deleted text end A district's transition aid equals its transition
revenue minus its transition levy times the ratio of the actual amount levied to the
permitted levy.