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HF 1567

as introduced - 88th Legislature (2013 - 2014) Posted on 03/14/2013 02:29pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 03/14/2013

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
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A bill for an act
 relating to education finance; increasing the formula allowance; amending
Minnesota Statutes 2012, section 126C.10, subdivision 2.

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

Section 1.

Minnesota Statutes 2012, 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. The formula
allowance for fiscal year 2011 is $5,124. The formula allowance for fiscal year 2012 is
$5,174. The formula allowance for fiscal year 2013 and subsequent years is $5,224.
The formula allowance for fiscal year 2014 is $5,380. The formula allowance for fiscal
year 2015 and subsequent years is $5,542.

EFFECTIVE DATE.

This section is effective for fiscal year 2014 and later.