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HF 1375

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

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

Bill Text Versions

Engrossments
Introduction Posted on 03/31/2003

Current Version - as introduced

  1.1                          A bill for an act 
  1.2             relating to education finance; increasing funding for 
  1.3             equity revenue; limiting compensatory revenue to not 
  1.4             more than $1,500 per pupil; amending Minnesota 
  1.5             Statutes 2002, section 126C.10, subdivisions 3, 24.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2002, section 126C.10, 
  1.8   subdivision 3, is amended to read: 
  1.9      Subd. 3.  [COMPENSATORY EDUCATION REVENUE.] The 
  1.10  compensatory education revenue for each building in the district 
  1.11  equals the lesser of:  (1) the formula allowance times the 
  1.12  compensation revenue pupil units computed according to section 
  1.13  126C.05, subdivision 3; or (2) $1,500 times the number of pupils 
  1.14  eligible for free or reduced price meals calculated according to 
  1.15  section 126C.05, subdivision 3, paragraph (a), clause (1).  
  1.16  Revenue shall be paid to the district and must be allocated 
  1.17  according to section 126C.15, subdivision 2. 
  1.18     [EFFECTIVE DATE.] This section is effective for revenue for 
  1.19  fiscal year 2004.  
  1.20     Sec. 2.  Minnesota Statutes 2002, section 126C.10, 
  1.21  subdivision 24, is amended to read: 
  1.22     Subd. 24.  [EQUITY REVENUE.] (a) A school district 
  1.23  qualifies for equity revenue if: 
  1.24     (1) the school district's adjusted marginal cost pupil unit 
  1.25  amount of basic revenue, supplemental revenue, transition 
  2.1   revenue, and referendum revenue is less than the value of the 
  2.2   school district at or immediately above the 95th percentile of 
  2.3   school districts in its equity region for those revenue 
  2.4   categories; and 
  2.5      (2) the school district's administrative offices are not 
  2.6   located in a city of the first class on July 1, 1999. 
  2.7      (b) Equity revenue for a qualifying district that receives 
  2.8   referendum revenue under section 126C.17, subdivision 4, equals 
  2.9   the product of (1) the district's adjusted marginal cost pupil 
  2.10  units for that year; times (2) the sum of (i) $10 $15, plus (ii) 
  2.11  $55 $85, times the school district's equity index computed under 
  2.12  subdivision 27. 
  2.13     (c) Equity revenue for a qualifying district that does not 
  2.14  receive referendum revenue under section 126C.17, subdivision 4, 
  2.15  equals the product of the district's adjusted marginal cost 
  2.16  pupil units for that year times $10 $15. 
  2.17     [EFFECTIVE DATE.] This section is effective for revenue for 
  2.18  fiscal year 2004.