1.1                          A bill for an act 
  1.2             relating to education finance; removing obsolete 
  1.3             language from the definition of general education 
  1.4             revenue; amending Minnesota Statutes 2002, section 
  1.5             126C.10, subdivision 1.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2002, section 126C.10, 
  1.8   subdivision 1, is amended to read: 
  1.9      Subdivision 1.  [GENERAL EDUCATION REVENUE.] (a) For fiscal 
  1.10  year 2002, the general education revenue for each district 
  1.11  equals the sum of the district's basic revenue, basic skills 
  1.12  revenue, training and experience revenue, secondary sparsity 
  1.13  revenue, elementary sparsity revenue, transportation sparsity 
  1.14  revenue, total operating capital revenue, equity revenue, 
  1.15  transition revenue, and supplemental revenue. 
  1.16     (b) For fiscal year 2003 and later, the general education 
  1.17  revenue for each district equals the sum of the district's basic 
  1.18  revenue, basic skills revenue, training and experience revenue, 
  1.19  secondary sparsity revenue, elementary sparsity revenue, 
  1.20  transportation sparsity revenue, total operating capital 
  1.21  revenue, and equity revenue. 
  1.22     <b>[EFFECTIVE DATE.]</b> This section is effective July 1, 2003.