1.1 	A bill for an act
1.2 	relating to education finance; creating a technical and vocational revenue 
1.3 	program for collaborative high school and postsecondary vocational programs;
1.4 	proposing coding for new law in Minnesota Statutes, chapter 124D.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. [124D.4532] TECHNICAL AND VOCATIONAL REVENUE.
1.7 		Subdivision 1.Eligibility. A school district that offers technical and vocational 
1.8 	programs collaboratively with a postsecondary institution with a jointly approved 
1.9 	technical and vocational program offered to students enrolled in grades 11 and 12 is 
1.10 	eligible for technical and vocational revenue.
1.11 		Subd. 2.Technical and vocational revenue. Total technical and vocational revenue 
1.12 	for an eligible district equals $250 multiplied times its adjusted average daily membership 
1.13 	for the school year.
1.14 		Subd. 3.Technical and vocational levy. To obtain technical and vocational revenue 
1.15 	for fiscal year 2009 and later, a district may levy an amount not more than the product of 
1.16 	its technical and vocational revenue for the fiscal year times the lesser of one or the ratio 
1.17 	of its referendum market value per resident marginal cost pupil unit to $476,000.
1.18 		Subd. 4.Technical and vocational aid. A district's technical and vocational aid 
1.19 	equals its technical and vocational revenue minus its technical and vocational levy times 
1.20 	the ratio of the actual amount levied to the permitted levy.