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HF 3231

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

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13
1.14

A bill for an act
 relating to education finance; reducing the operating capital levy by restoring
the operating capital equalizing factor; amending Minnesota Statutes 2005
Supplement, section 126C.10, subdivision 13a.

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

Section 1.

Minnesota Statutes 2005 Supplement, section 126C.10, subdivision 13a,
is amended to read:


Subd. 13a.

Operating capital levy.

To obtain operating capital revenue deleted text begin for fiscal
year 2007 and laterdeleted text end , a district may levy an amount not more than the product of its
operating capital revenue for the fiscal year times the lesser of one or the ratio of its
adjusted net tax capacity per adjusted marginal cost pupil unit to the operating capital
equalizing factor. The operating capital equalizing factor equals $22,222 for fiscal year
2006, deleted text begin anddeleted text end $10,700 for fiscal year 2007new text begin , and $22,222 for fiscal year 2008 new text end and later.

new text begin EFFECTIVE DATE. new text end

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