HF 2364

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to education finance; modifying the
calculation of revenue for transition revenue;
amending Minnesota Statutes 2004, section 126C.10,
subdivision 31.

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

Section 1.

Minnesota Statutes 2004, section 126C.10,
subdivision 31, is amended to read:

Subd. 31.

Transition revenue.

(a) A district's
transition allowance for fiscal years 2004 through 2008 equals
the greater of zero or the product of the ratio of the number of
adjusted marginal cost pupil units the district would have
counted for fiscal year 2004 under Minnesota Statutes 2002 to
the district's adjusted marginal cost pupil units for fiscal
year 2004, times the difference between: (1) the lesser of the
district's general education revenue new text begin less its compensatory
revenue for that year plus the compensatory revenue the district
would have received for fiscal year 2004 according to Minnesota
Statutes 2002, new text end per adjusted marginal cost pupil unit for fiscal
year 2003 or the amount of general education revenue the
district would have received per adjusted marginal cost pupil
unit for fiscal year 2004 according to Minnesota Statutes 2002,
and (2) the district's general education revenue for fiscal year
2004 excluding transition revenue divided by the number of
adjusted marginal cost pupil units the district would have
counted for fiscal year 2004 under Minnesota Statutes 2002. A
district's transition allowance for fiscal year 2009 and later
is zero.

(b) A district's transition revenue for fiscal year 2004
and later equals the product of the district's transition
allowance times the district's adjusted marginal cost pupil
units.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for
fiscal year 2006.
new text end