1.1 	A bill for an act
1.2 	relating to education finance; authorizing revenue to offset payments or pupil 
1.3 	weight reductions related to student participation in postsecondary enrollment 
1.4 	options;amending Minnesota Statutes 2012, section 124D.09, by adding 
1.5 	subdivisions.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2012, section 124D.09, is amended by adding a 
1.8 	subdivision to read:
1.9 		Subd. 27.Postsecondary enrollment options replacement revenue. (a) A school 
1.10 	district with fewer than 3,000 resident marginal cost pupil units, in which more than 20 
1.11 	percent of students in grades 11 and 12 are enrolled in a postsecondary course under this 
1.12 	section, is eligible for postsecondary enrollment options replacement revenue equal to the 
1.13 	sum of the amounts determined under paragraphs (b) and (c).
1.14 	(b) Payments made under subdivision 16 by the district to eligible institutions for 
1.15 	credits earned by pupils in grade 11 or 12 in the fiscal year ending in the year the levy is 
1.16 	certified.
1.17 	(c) The product of:
1.18 	(1) the formula allowance for the fiscal year ending in the year the levy is certified 
1.19 	minus $415;
1.20 	(2) 1.3; and
1.21 	(3) 1.00 minus the average daily membership calculated for postsecondary 
1.22 	enrollment options pupils in grade 11 or 12 under section 126C.05, subdivision 13, for the 
1.23 	fiscal year ending in the year the levy is certified.

2.1 	EFFECTIVE DATE. This section is effective for revenue beginning in fiscal year 
2.2 	2015.

2.3 	Sec. 2. Minnesota Statutes 2012, section 124D.09, is amended by adding a subdivision 
2.4 	to read:
2.5 		Subd. 28.Postsecondary enrollment options replacement levy. To obtain 
2.6 	postsecondary enrollment options replacement revenue for fiscal year 2015 and later, a 
2.7 	district may levy an amount not more than the product of its postsecondary enrollment 
2.8 	options replacement revenue for the fiscal year times the lesser of one or the ratio of 
2.9 	its adjusted net tax capacity per resident marginal cost pupil unit to the postsecondary 
2.10 	enrollment options replacement equalizing factor. The postsecondary enrollment options 
2.11 	replacement equalizing factor equals $7,852.

2.12 	EFFECTIVE DATE. This section is effective for revenue in fiscal year 2015 and 
2.13 	later.

2.14 	Sec. 3. Minnesota Statutes 2012, section 124D.09, is amended by adding a subdivision 
2.15 	to read:
2.16 		Subd. 29.Postsecondary enrollment options replacement aid. A district's 
2.17 	postsecondary enrollment options replacement aid equals its postsecondary enrollment 
2.18 	options replacement revenue minus its postsecondary enrollment options replacement levy 
2.19 	times the ratio of the actual amount levied to the permitted levy.

2.20 	EFFECTIVE DATE. This section is effective for taxes payable in 2014 and later.