HF 2030

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

A bill for an act
relating to education finance; proposing a uniform increase in the basic general
education revenue amounts; amending Minnesota Statutes 2006, section
126C.10, subdivision 2.

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

Section 1.

Minnesota Statutes 2006, section 126C.10, subdivision 2, is amended to read:

Subd. 2.

Basic revenue.

new text begin (a) new text end The basic revenue for each district equals the formula
allowance times the adjusted marginal cost pupil units for the school year. The formula
allowance for fiscal year 2005 is $4,601. The formula allowance for fiscal year 2006 is
$4,783. The formula allowance for fiscal year 2007 and subsequent years is $4,974.

new text begin (b) The basic formula allowance in paragraph (a) is increased by $295 for fiscal year
2008 and by $525 for fiscal year 2009 and later. The increase in the formula allowance
under this paragraph applies only for general education basic revenue and does not affect
any other school formula.
new text end

new text begin (c) At least 90 percent of the revenue received under paragraph (b) must be spent on
regular classroom instruction as defined in the uniform financial and accounting standards
used for school accounting.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal year 2008.
new text end