Minnesota Legislature
HF 1422
as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am
Bill Text Versions
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| Introduction | Posted on 02/23/2007 |
Current Version - as introduced
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A bill for an act
relating to education finance; indexing school finance equalizing factors;
amending Minnesota Statutes 2006, sections 124D.135, subdivision 3; 124D.20,
subdivision 5; 126C.01, by adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2006, section 124D.135, subdivision 3, is amended to
read:
Subd. 3.
Early childhood family education levy.
deleted text begin For fiscal year 2001deleted text end To obtain
early childhood family education revenue, a district may levy an amount deleted text begin equal to the tax
rate of .5282 percent times the adjusted tax capacity of the district for the year preceding
the year the levy is certified. Beginning with levies for fiscal year 2002, by September
30 of each year, the commissioner shall establish a tax rate fordeleted text end new text begin not to exceed the product
of itsnew text end early childhood education revenue deleted text begin that raises $21,027,000 for fiscal year 2002 and
$22,135,000 in fiscal year 2003 and each subsequent year. If the amount of the early
childhood family education levy would exceed the early childhood family education
revenue, the early childhood family education levy must equal the early childhood family
education revenuedeleted text end new text begin 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 ... percent of the statewide adjusted
net tax capacity equalizing factornew text end .
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for taxes payable in 2008.
new text end
Sec. 2.
Minnesota Statutes 2006, section 124D.20, subdivision 5, is amended to read:
Subd. 5.
Total community education levy.
To obtain total community education
revenue, a district may levy deleted text begin thedeleted text end new text begin annew text end amount deleted text begin raised by a maximum tax rate of .9 percent
times the adjusted net tax capacity of the districtdeleted text end new text begin not to exceed the product of its total
community education 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 ... percent of the
statewide adjusted net tax capacity equalizing factornew text end . deleted text begin If the amount of the total community
education levy would exceed the total community education revenue, the total community
education levy shall be determined according to subdivision 6.
deleted text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for taxes payable in 2008.
new text end
Sec. 3.
Minnesota Statutes 2006, section 126C.01, is amended by adding a subdivision
to read:
new text begin Subd. 2a. new text end
new text begin Adjusted net tax capacity equalizing factor. new text end
new text begin
The adjusted net tax
capacity equalizing factor equals the quotient derived by dividing the total adjusted net
tax capacity of all school districts in the state for the year before the year the levy is
certified by the total number of adjusted marginal cost pupil units in the state for the
current school year.
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for taxes payable in 2008.
new text end