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HF 550

as introduced - 87th Legislature (2011 - 2012) Posted on 02/17/2011 09:57am

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 02/17/2011

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10
1.11 1.12

A bill for an act
 relating to education finance; increasing the general education basic formula
allowance; amending Minnesota Statutes 2010, section 126C.10, subdivision 2.

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

Section 1.

Minnesota Statutes 2010, section 126C.10, subdivision 2, is amended to read:


Subd. 2.

Basic revenue.

The basic revenue for each district equals the formula
allowance times the adjusted marginal cost pupil units for the school year. deleted text begin The formula
allowance for fiscal year 2007 is $4,974.deleted text end The formula allowance for fiscal deleted text begin year 2008 is
$5,074 and the formula allowance for fiscal yeardeleted text end new text begin yearsnew text end 2009new text begin , 2010, and 2011, is $5,124.
The formula allowance for fiscal years 2012new text end and subsequent years is deleted text begin $5,124deleted text end new text begin $5,324new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal years 2012
and later.
 new text end