1.1                          A bill for an act 
  1.2             relating to education finance; continuing the 
  1.3             referendum offset adjustment until a district's 
  1.4             referendum is renewed; amending Minnesota Statutes 
  1.5             2000, section 126C.10, subdivision 23.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2000, section 126C.10, 
  1.8   subdivision 23, is amended to read: 
  1.9      Subd. 23.  [REFERENDUM OFFSET ADJUSTMENT.] A district that 
  1.10  qualifies for the referendum allowance reduction under section 
  1.11  126C.17, subdivision 12, and whose referendum allowance under 
  1.12  section 126C.17, subdivision 1, as adjusted under section 
  1.13  126C.17, subdivisions 2 and 12, does not exceed the referendum 
  1.14  allowance limit under section 126C.17, subdivision 2, clause 
  1.15  (2), shall receive a referendum offset adjustment.  In during 
  1.16  fiscal year 2000 and thereafter, the 2001 is eligible for a 
  1.17  referendum offset adjustment is equal to $25 per adjusted 
  1.18  marginal cost pupil unit from fiscal year 2002 until the fiscal 
  1.19  year during which any part of the district's referendum revenue 
  1.20  authority expires. 
  1.21     <b>[EFFECTIVE DATE.]</b> This section is effective the day 
  1.22  following final enactment.