HF 2233

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

  1.1                          A bill for an act 
  1.2             relating to education finance; increasing the general 
  1.3             education basic formula allowance; amending Minnesota 
  1.4             Statutes 2002, section 126C.10, subdivision 2.  
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 2002, section 126C.10, 
  1.7   subdivision 2, is amended to read: 
  1.8      Subd. 2.  [BASIC REVENUE.] The basic revenue for each 
  1.9   district equals the formula allowance times the adjusted 
  1.10  marginal cost pupil units for the school year.  The formula 
  1.11  allowance for fiscal year 2001 is $3,964.  The formula allowance 
  1.12  for fiscal year 2002 is $4,068.  The formula allowance for 
  1.13  fiscal year 2003 and 2004 is $4,601.  The formula allowance for 
  1.14  fiscal year 2005 and subsequent years is $4,601 $4,716. 
  1.15     [EFFECTIVE DATE.] This section is effective for revenue for 
  1.16  fiscal year 2005.