1.1 	A bill for an act
1.2 	relating to education finance; increasing the general education basic formula 
1.3 	allowance; providing annual inflationary increases in the basic formula allowance 
1.4 	for fiscal year 2018 and later;amending Minnesota Statutes 2014, section 
1.5 	126C.10, subdivision 2.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2014, section 126C.10, subdivision 2, is amended to read:
1.8 		Subd. 2.Basic revenue. For fiscal year 2014, the basic revenue for each district 
1.9 	equals the formula allowance times the adjusted marginal cost pupil units for the school 
1.10 	year. For fiscal year 2015 and later, the basic revenue for each district equals the formula 
1.11 	allowance times the adjusted pupil units for the school year. The formula allowance 
1.12 	for fiscal year 2013 is $5,224. The formula allowance for fiscal year 2014 is $5,302.
1.13 	The formula allowance for fiscal year 2015 and later is $5,831. The formula allowance 
1.14 	for fiscal year 2016 is $6,064. The formula allowance for fiscal year 2017 is $6,307. 
1.15 	The formula allowance for fiscal year 2018 and later equals the formula allowance for 
1.16 	fiscal year 2017 times one plus the percentage change in the Consumer Price Index for 
1.17 	urban consumers, as prepared by the United States Bureau of Labor Standards, for the 
1.18 	current fiscal year to fiscal year 2017.