Relating to education, providing for school finance simplification, clarification and equity; modifying the definition of pupil unit, providing the same weight for pupils from kindergarten to grade 12; modifying the general education revenue reservation requirement for learning year pupils; equalizing school district general education revenue with basic revenue and modifying the basic revenue formula allowance and the general education tax rate; removing the exclusion of transition and supplemental revenue from the general education levy formula and modifying the general education aid formula; repealing the staff development revenue reservation requirement, the first grade preparedness program, limited English proficiency programs aid, integration revenue, the definitions of compensation revenue and LEP pupil units, compensatory education, basic skills, training and experience and secondary and elementary sparsity revenues, supplemental revenue, levy, aid and revenue reduction, total operating capital revenue, the maintenance cost index, the transportation sparsity revenue allowance, the transition allowance and revenue, levy and aid adjustments, the referendum offset adjustment, equity revenue, the training and experience index, learning and development revenue, class size, all day kindergarten and special education student to instructor ratio reserve, basic skills, compensatory education and cooperation revenues and the Minnesota education finance act of 1992(mk)