HF 597

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to education; modifying the supplemental 
  1.3             revenue reduction; amending Laws 1995, First Special 
  1.4             Session chapter 3, article 1, section 56. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Laws 1995, First Special Section chapter 3, 
  1.7   article 1, section 56, is amended to read: 
  1.8      Sec. 56.  [SUPPLEMENTAL REVENUE REDUCTION.] 
  1.9      For fiscal years 1996 and 1997, If a district's ratio of 
  1.10  1992 adjusted net tax capacity divided by 1994-1995 actual pupil 
  1.11  units to $9,025 is less than or equal to .25, then the 
  1.12  difference under Minnesota Statutes, section 124A.22, 
  1.13  subdivision 9, clause (2), is equal to $25 for purposes of 
  1.14  computing the district's supplemental revenue under Minnesota 
  1.15  Statutes, section 124A.22, subdivision 8.  For purposes of 
  1.16  computing the referendum allowance reduction under Minnesota 
  1.17  Statutes, section 124A.03, subdivision 3b, the supplemental 
  1.18  revenue reduction shall be computed according to Minnesota 
  1.19  Statutes, section 124A.22, subdivision 9. 
  1.20     Sec. 2.  [EFFECTIVE DATE.] 
  1.21     Section 1 is effective for revenue for fiscal years 1998 
  1.22  and later.