1.1 	A bill for an act
1.2 	relating to education finance; clarifying the definition of general education 
1.3 	revenue;amending Minnesota Statutes 2014, section 126C.10, subdivision 1.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2014, section 126C.10, subdivision 1, is amended to read:
1.6 		Subdivision 1.General education revenue. ~~(a) For fiscal years 2013 and 2014, the~~ 
1.7 	~~general education revenue for each district equals the sum of the district's basic revenue,~~ 
1.8 	~~extended time revenue, gifted and talented revenue, small schools revenue, basic skills~~ 
1.9 	~~revenue, secondary sparsity revenue, elementary sparsity revenue, transportation sparsity~~ 
1.10 	~~revenue, total operating capital revenue, equity revenue, alternative teacher compensation~~ 
1.11 	~~revenue, and transition revenue.~~
1.12 	~~(b) For fiscal year 2015 and later, the~~ General education revenue for each district 
1.13 	equals the sum of the district's basic revenue, extended time revenue, gifted and 
1.14 	talented revenue, declining enrollment revenue, local optional revenue, small schools 
1.15 	revenue, basic skills revenue, secondary sparsity revenue, elementary sparsity revenue, 
1.16 	transportation sparsity revenue, total operating capital revenue, equity revenue, pension 
1.17 	adjustment revenue, and transition revenue.