1.1 	A bill for an act
1.2 	relating to education finance; providing technical corrections and eliminating 
1.3 	obsolete language related to general education revenue;amending Minnesota 
1.4 	Statutes 2014, section 126C.10, subdivisions 3, 29, 33; Minnesota Statutes 2015 
1.5 	Supplement, section 126C.10, subdivision 2.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2015 Supplement, section 126C.10, subdivision 2, is 
1.8 	amended to read:
1.9 		Subd. 2.Basic revenue.  The basic revenue for each district equals the formula 
1.10 	allowance times the adjusted pupil units for the school year. The formula allowance for 
1.11 	fiscal year 2015 is $5,831. The formula allowance for fiscal year 2016 is $5,948. The 
1.12 	formula allowance for fiscal year 2017 and later is $6,067.

1.13 	Sec. 2. Minnesota Statutes 2014, section 126C.10, subdivision 3, is amended to read:
1.14 		Subd. 3.Compensatory education revenue. (a) For fiscal year 2014, the 
1.15 	compensatory education revenue for each building in the district equals the formula 
1.16 	allowance minus $415 times the compensation revenue pupil units computed according 
1.17 	to section 126C.05, subdivision 3. For fiscal year 2015 and later, The compensatory 
1.18 	education revenue for each building in the district equals the formula allowance minus 
1.19 	$839 times the compensation revenue pupil units computed according to section 126C.05, 
1.20 	subdivision 3. Revenue shall be paid to the district and must be allocated according to 
1.21 	section 126C.15, subdivision 2.
1.22 	(b) When the district contracting with an alternative program under section 124D.69 
1.23 	changes prior to the start of a school year, the compensatory revenue generated by pupils 
1.24 	attending the program shall be paid to the district contracting with the alternative program 
2.1 	for the current school year, and shall not be paid to the district contracting with the 
2.2 	alternative program for the prior school year.
2.3 	(c) When the fiscal agent district for an area learning center changes prior to the start 
2.4 	of a school year, the compensatory revenue shall be paid to the fiscal agent district for the 
2.5 	current school year, and shall not be paid to the fiscal agent district for the prior school year.

2.6 	Sec. 3. Minnesota Statutes 2014, section 126C.10, subdivision 29, is amended to read:
2.7 		Subd. 29.Equity levy. To obtain equity revenue for fiscal year 2015 and later, a 
2.8 	district may levy an amount not more than the product of its equity revenue for the fiscal 
2.9 	year times the lesser of one or the ratio of its referendum market value per resident pupil 
2.10 	unit to $510,000.

2.11 	Sec. 4. Minnesota Statutes 2014, section 126C.10, subdivision 33, is amended to read:
2.12 		Subd. 33.Transition aid. (a) For fiscal year 2004, a district's transition aid equals 
2.13 	its transition revenue.
2.14 	(b) For fiscal year 2005 and later, A district's transition aid equals its transition 
2.15 	revenue minus its transition levy times the ratio of the actual amount levied to the 
2.16 	permitted levy.