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HF 60

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/05/2023 09:52am

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 01/04/2023

Current Version - as introduced

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A bill for an act
 relating to education finance; increasing referendum equalization aid for certain
special schools; appropriating money; amending Minnesota Statutes 2022, section
126C.17, subdivision 6.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2022, section 126C.17, subdivision 6, is amended to read:


Subd. 6.

Referendum equalization levy.

(a) A district's referendum equalization levy
equals the sum of the first tier referendum equalization levy and the second tier referendum
equalization levy.

(b) A district's first tier referendum equalization levy equals the district's first tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $567,000.

(c) A district's second tier referendum equalization levy equals the district's second tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $290,000.

new text begin (d) Notwithstanding paragraphs (a) to (c), the referendum equalization levy for a special
school district located wholly outside the boundaries of a city of the first class equals the
district's referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $1,000,000.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal year 2024 and later.
 new text end

Sec. 2. new text begin APPROPRIATION; ADDITIONAL REFERENDUM AID.
new text end

new text begin Subdivision 1. new text end

new text begin Department of Education. new text end

new text begin The sums indicated in this section are
appropriated from the general fund to the Department of Education in the fiscal years
designated.
 new text end

new text begin Subd. 2. new text end

new text begin Referendum equalization aid. new text end

new text begin For additional referendum equalization aid
under section 1:
 new text end

new text begin $
 new text end 		new text begin 1,973,000
 new text end 		new text begin .....
 new text end 		new text begin 2024
 new text end
new text begin $
 new text end 		new text begin 1,521,000
 new text end 		new text begin .....
 new text end 		new text begin 2025
 new text end