HF 2269

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 finance; increasing state 
  1.3             equalization aid for school district debt service 
  1.4             levies and operating referendum revenue; amending 
  1.5             Minnesota Statutes 2000, sections 123B.53, 
  1.6             subdivisions 4, 5; 126C.17, subdivisions 5, 6, 7, 8. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 2000, section 123B.53, 
  1.9   subdivision 4, is amended to read: 
  1.10     Subd. 4.  [DEBT SERVICE EQUALIZATION REVENUE.] (a) The debt 
  1.11  service equalization revenue of a district equals the sum of the 
  1.12  first tier debt service equalization revenue and the second tier 
  1.13  debt service equalization revenue. 
  1.14     (b) The first tier debt service equalization revenue of a 
  1.15  district equals the greater of zero or the eligible debt service 
  1.16  revenue minus the amount raised by a levy of 12 percent times 
  1.17  the adjusted net tax capacity of the district minus the second 
  1.18  tier debt service equalization revenue of the district. 
  1.19     (c) The second tier debt service equalization revenue of a 
  1.20  district equals the greater of zero or the eligible debt service 
  1.21  revenue minus the amount raised by a levy of 20 percent times 
  1.22  the adjusted net tax capacity of the district. 
  1.23     Sec. 2.  Minnesota Statutes 2000, section 123B.53, 
  1.24  subdivision 5, is amended to read: 
  1.25     Subd. 5.  [EQUALIZED DEBT SERVICE LEVY.] To obtain debt 
  1.26  service equalization revenue, a district must levy an amount not 
  2.1   to exceed the district's debt service equalization revenue (a) 
  2.2   The equalized debt service levy of a district equals the sum of 
  2.3   the first tier equalized debt service levy and the second tier 
  2.4   equalized debt service levy. 
  2.5      (b) A district's first tier equalized debt service levy 
  2.6   equals the district's first tier debt service equalization 
  2.7   revenue times the lesser of one or the ratio of: 
  2.8      (1) the quotient derived by dividing the adjusted net tax 
  2.9   capacity of the district for the year before the year the levy 
  2.10  is certified by the adjusted pupil units in the district for the 
  2.11  school year ending in the year prior to the year the levy is 
  2.12  certified; to 
  2.13     (2) $4,000 $5,000. 
  2.14     (c) A district's second tier equalized debt service levy 
  2.15  equals the district's second tier debt service equalization 
  2.16  revenue times the lesser of one or the ratio of: 
  2.17     (1) the quotient derived by dividing the adjusted net tax 
  2.18  capacity of the district for the year before the year the levy 
  2.19  is certified by the adjusted pupil units in the district for the 
  2.20  school year ending in the year prior to the year the levy is 
  2.21  certified; to 
  2.22     (2) $9,000. 
  2.23     Sec. 3.  Minnesota Statutes 2000, section 126C.17, 
  2.24  subdivision 5, is amended to read: 
  2.25     Subd. 5.  [REFERENDUM EQUALIZATION REVENUE.] (a) For fiscal 
  2.26  year 2002, a district's referendum equalization revenue equals 
  2.27  the referendum equalization allowance lesser of the district's 
  2.28  referendum allowance under subdivision 1 or $415 times the 
  2.29  district's resident marginal cost pupil units for that 
  2.30  year.  For fiscal year 2003 and later, a district's referendum 
  2.31  equalization revenue equals the sum of the first tier referendum 
  2.32  equalization revenue and the second tier referendum equalization 
  2.33  revenue.  
  2.34     (b) The A district's first tier referendum equalization 
  2.35  revenue equals the district's first tier referendum equalization 
  2.36  allowance times the district's resident marginal cost pupil 
  3.1   units for that year. 
  3.2      (c) A district's first tier referendum equalization 
  3.3   allowance equals $350 for fiscal year 2000 and $415 for fiscal 
  3.4   year 2001 and later. 
  3.5      (c) Referendum equalization revenue must not exceed a 
  3.6   district's total referendum revenue for that year the lesser of 
  3.7   the district's referendum allowance under subdivision 1 or $545. 
  3.8      (d) A district's second tier referendum equalization 
  3.9   allowance equals the lesser of the district's referendum 
  3.10  allowance under subdivision 1 or 25 percent of the formula 
  3.11  allowance, minus the district's first tier referendum 
  3.12  equalization allowance. 
  3.13     [EFFECTIVE DATE.] This section is effective for fiscal year 
  3.14  2002 and thereafter. 
  3.15     Sec. 4.  Minnesota Statutes 2000, section 126C.17, 
  3.16  subdivision 6, is amended to read: 
  3.17     Subd. 6.  [REFERENDUM EQUALIZATION LEVY.] (a) A district's 
  3.18  referendum equalization levy for a referendum levied against the 
  3.19  referendum market value of all taxable property as defined in 
  3.20  section 126C.01, subdivision 3 fiscal year 2002, equals the 
  3.21  district's referendum equalization revenue times the lesser of 
  3.22  one or the ratio of the district's referendum market value per 
  3.23  resident marginal cost pupil unit to $476,000. 
  3.24     (b) For fiscal year 2003 and later, a district's referendum 
  3.25  equalization levy for a referendum levied against the net tax 
  3.26  capacity of all taxable property equals the district's 
  3.27  referendum equalization revenue times the lesser of one or the 
  3.28  ratio of the district's adjusted net tax capacity per resident 
  3.29  marginal cost pupil unit to $8,404 equals the sum of the first 
  3.30  tier referendum equalization levy and the second tier referendum 
  3.31  equalization levy. 
  3.32     (c) A district's first tier referendum equalization levy 
  3.33  equals the district's first tier referendum equalization revenue 
  3.34  times the lesser of one or the ratio of the district's 
  3.35  referendum market value per resident marginal cost pupil unit to 
  3.36  $476,000. 
  4.1      (d) A district's second tier referendum equalization levy 
  4.2   equals the district's second tier revenue times the lesser of 
  4.3   one or the ratio of the district's referendum market value per 
  4.4   resident marginal cost pupil unit to $315,000. 
  4.5      [EFFECTIVE DATE.] This section is effective for fiscal year 
  4.6   2002 and thereafter. 
  4.7      Sec. 5.  Minnesota Statutes 2000, section 126C.17, 
  4.8   subdivision 7, is amended to read: 
  4.9      Subd. 7.  [REFERENDUM EQUALIZATION AID.] (a) A district's 
  4.10  referendum equalization aid equals the difference between its 
  4.11  referendum equalization revenue and levy. 
  4.12     (b) If a district's actual levy for first or second tier 
  4.13  referendum equalization revenue is less than its maximum levy 
  4.14  limit for that tier, aid for that tier shall be proportionately 
  4.15  reduced. 
  4.16     [EFFECTIVE DATE.] This section is effective for fiscal year 
  4.17  2003 and thereafter. 
  4.18     Sec. 6.  Minnesota Statutes 2000, section 126C.17, 
  4.19  subdivision 8, is amended to read: 
  4.20     Subd. 8.  [UNEQUALIZED REFERENDUM LEVY.] Each year, a 
  4.21  district may levy an amount equal to the difference between its 
  4.22  total referendum revenue according to subdivision 5 4 and its 
  4.23  equalized referendum aid and levy according to subdivisions 6 
  4.24  and 7 referendum equalization revenue according to subdivision 5.
  4.25     [EFFECTIVE DATE.] This section is effective for taxes 
  4.26  payable in 2002 and thereafter.