Relating to education finance; modifying the school finance system and creating a new education funding framework; modifying the calculation of the first and second tier equalized debt service levies for school districts; establishing a school bond agricultural credit, specifying eligibility, credit amount, credit reimbursements and payments to school districts; modifying the calculation used by school districts to receive the health and safety levy revenue; modifying provisions relating to school districts qualifying to participate in the alternative facilities bonding and levy program; modifying the calculation of deferred maintenance revenue and the deferred maintenance levy for school districts; modifying requirements to be considered a pupil of limited English proficiency (LEP); modifying the formula for school district limited LEP revenue and school district special education aid and excess cost aid; establishing an adjusted net tax capacity equalizing factor calculation and a location equity index calculation; modifying the pupil unit calculation, modifying the computation of compensation revenue pupil units; eliminating adjusted marginal cost pupil units and resident marginal cost pupil units; modifying the process of determining LEP pupil units; establishing an education funding framework, providing for general classroom funding, district instructional services and district support services; modifying general education revenue, basic revenue, extended time revenue, declining enrollment revenue, location equity revenue, referendum replacement revenue, compensatory education revenue, basic skills revenue, total operating capital revenue and transportation sparsity revenue; providing for transportation revenue calculation; specifying uses for school districts innovation revenue; modifying school districts general education aid and uses of general education revenue; modifying the calculation of school districts referendum allowance; modifying provisions relating to the annual general education aid appropriation; expanding the purposes for which school districts can lease a building or land; increasing the allowed levy amount for school districts wanting to lease a building, land or classroom space; specifying instructions to the revisor of statutes; repealing certain provisions relating to school districts general education revenue, learning and development revenue, aid adjustments in response to changes in employer contribution rates, debt service appropriation, state total special education aid, special education excess cost aid, and the reallocation of general education revenue for all day kindergarten and prekindergarten
(New Minnesota Miracle)
(me)