as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to education; increasing the equalization 1.3 amount for operating referendums; amending Minnesota 1.4 Statutes 2000, section 126C.17, subdivision 5. 1.5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.6 Section 1. Minnesota Statutes 2000, section 126C.17, 1.7 subdivision 5, is amended to read: 1.8 Subd. 5. [REFERENDUM EQUALIZATION REVENUE.] (a) A 1.9 district's referendum equalization revenue equals the referendum 1.10 equalization allowance times the district's resident marginal 1.11 cost pupil units for that year. 1.12 (b) The referendum equalization allowance equals $350 for 1.13 fiscal year 2000and, $415 for fiscal year 2001, and $750 for 1.14 fiscal year 2002 and later. 1.15 (c) Referendum equalization revenue must not exceed a 1.16 district's total referendum revenue for that year.