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HF 873

as introduced - 87th Legislature (2011 - 2012) Posted on 03/03/2011 11:55am

KEY: stricken = removed, old language.
underscored = added, new language.
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Current Version - as introduced

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A bill for an act
 relating to education finance; removing obsolete language; amending Minnesota
Statutes 2010, section 126C.10, subdivision 13a.

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

Section 1.

Minnesota Statutes 2010, section 126C.10, subdivision 13a, is amended to
read:


Subd. 13a.

Operating capital levy.

To obtain operating capital revenue deleted text begin for fiscal
year 2007 and laterdeleted text end , a district may levy an amount not more than the product of its
operating capital revenue for the fiscal year times the lesser of one or the ratio of its
adjusted net tax capacity per adjusted marginal cost pupil unit to the operating capital
equalizing factor. The operating capital equalizing factor equals deleted text begin $22,222 for fiscal year
2006, anddeleted text end $10,700 deleted text begin for fiscal year 2007 and laterdeleted text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2011.
 new text end