HF 1927

as introduced - 90th Legislature (2017 - 2018) Posted on 03/02/2017 12:53pm

A bill for an act
relating to education finance; increasing local optional levy equalization for certain
districts with seasonal recreational property; amending Minnesota Statutes 2016,
section 126C.10, subdivision 2e.

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

Section 1.

Minnesota Statutes 2016, section 126C.10, subdivision 2e, is amended to read:

Subd. 2e.

Local optional revenue.

(a) Local optional revenue for a school district equals
$424 times the adjusted pupil units of the district for that school year.

(b) A district's local optional levy equals its local optional revenue times the lesser of
one or the ratio of its referendum market value per resident pupil unit to deleted text begin $510,000 deleted text end new text begin the local
optional equalizing factor new text end . The local optional revenue levy must be spread on referendum
market value. A district may levy less than the permitted amount.

(c) A district's local optional aid equals its local optional revenue less its local optional
levy, times the ratio of the actual amount levied to the permitted levy.

new text begin (d) A district's local optional equalizing factor equals $510,000 times the greater of one
or the ratio of the district's seasonal recreational factor to 0.30.
new text end

new text begin (e) A district's seasonal recreational factor equals the ratio of the market value of property
in the district classified as 4(c)12 under section 273.13 to the district's total taxable market
value under section 273.13.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxes payable in 2018 and later.
new text end