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Minnesota Legislature

Office of the Revisor of Statutes

HF 350

as introduced - 89th Legislature (2015 - 2016) Posted on 01/26/2015 01:50pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 01/26/2015

Current Version - as introduced

Line numbers 1.1 1.2 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12
1.13 1.14

A bill for an act
relating to education finance; increasing the formula allowance; amending Minnesota Statutes 2014, section 126C.10, subdivision 2.

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

Section 1.

Minnesota Statutes 2014, section 126C.10, subdivision 2, is amended to read:


Subd. 2.

Basic revenue.

For fiscal year 2014, the basic revenue for each district
equals the formula allowance times the adjusted marginal cost pupil units for the school
year. For fiscal year 2015 and later, the basic revenue for each district equals the formula
allowance times the adjusted pupil units for the school year. The formula allowance for
fiscal year 2013 is $5,224. The formula allowance for fiscal year 2014 is $5,302. The
formula allowance for fiscal year 2015 deleted text beginand laterdeleted text end is $5,831.new text begin The formula allowance for
fiscal year 2016 and later is $6,131.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue in fiscal year 2016 and
later.
new text end