Office of the Revisor of Statutes
SF 968
Introduction - 87th Legislature (2011 - 2012)
Posted on 02/23/2012 09:39 a.m.
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A bill for an act
relating to education finance; allowing the referendum allowance limit to grow
at the same percentage as the basic formula allowance; amending Minnesota
Statutes 2010, section 126C.17, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2010, section 126C.17, subdivision 2, is amended to read:
Subd. 2.
Referendum allowance limit.
(a) Notwithstanding subdivision 1, for
fiscal deleted text begin year 2007 and laterdeleted text end new text begin years 2011 and 2012new text end , a district's referendum allowance must
not exceed the greater of:
(1) the sum of: (i) a district's referendum allowance for fiscal year 1994 times 1.177
times the annual inflationary increase as calculated under paragraph deleted text begin (b)deleted text end new text begin (c) new text end plus (ii) its
referendum conversion allowance for fiscal year 2003, minus (iii) $215;
(2) the greater ofdeleted text begin (i)deleted text end : new text begin (i) new text end 26 percent of the formula allowance or (ii) $1,294 times the
annual inflationary increase as calculated under paragraph (b); or
(3) for a newly reorganized district created after July 1, 2006, the referendum
revenue authority for each reorganizing district in the year preceding reorganization
divided by its resident marginal cost pupil units for the year preceding reorganization.
(b) new text begin Notwithstanding subdivision 1, for fiscal year 2013 and later, a district's
referendum allowance must not exceed the greater of:
new text end
new text begin
(1) the sum of: (i) a district's referendum allowance for fiscal year 1994 times 1.177
times the annual inflationary increase as calculated under paragraph (c), plus (ii) its
referendum conversion allowance for fiscal year 2003, minus (iii) $215;
new text end
new text begin
(2) the greater of: (i) 100 percent of the formula allowance or (ii) $1,294 times the
annual inflationary increase as calculated under paragraph (c); or
new text end
new text begin
(3) for a newly reorganized district created after July 1, 2006, the referendum
revenue authority for each reorganizing district in the year preceding reorganization
divided by its resident marginal cost pupil units for the year preceding reorganization.
new text end
new text begin (c) new text end For purposes of this subdivision, for fiscal year 2005 and later, "inflationary
increase" means one plus the percentage change in the Consumer Price Index for urban
consumers, as prepared by the United States Bureau of Labor Standards, for the current
fiscal year to fiscal year 2004. For fiscal years 2009 and later, for purposes of paragraph
(a), clause (1), the inflationary increase equals the inflationary increase for fiscal year
2008 plus one-fourth of the percentage increase in the formula allowance for that year
compared with the formula allowance for fiscal year 2008.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for revenue for fiscal year 2013
and later.
new text end