HF 2421

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to education finance; providing an increase
in equity revenue for districts with low levels of
referendum revenue per pupil unit; amending Minnesota
Statutes 2004, section 126C.10, subdivision 24.

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

Section 1.

Minnesota Statutes 2004, section 126C.10,
subdivision 24, is amended to read:

Subd. 24.

Equity revenue.

(a) A school district
qualifies for equity revenue if:

(1) the school district's adjusted marginal cost pupil unit
amount of basic revenue, supplemental revenue, transition
revenue, and referendum revenue is less than the value of the
school district at or immediately above the 95th percentile of
school districts in its equity region for those revenue
categories; and

(2) the school district's administrative offices are not
located in a city of the first class on July 1, 1999.

(b) Equity revenue for a qualifying district that receives
referendum revenue under section 126C.17, subdivision 4, equals
the product of (1) the district's adjusted marginal cost pupil
units for that year; times (2) the sum of (i) $13, plus (ii)
$75, times the school district's equity index computed under
subdivision 27.

(c) Equity revenue for a qualifying district that does not
receive referendum revenue under section 126C.17, subdivision 4,
equals the product of the district's adjusted marginal cost
pupil units for that year times $13.

new text begin (d) A school district's equity revenue is increased by the
greater of zero or an amount equal to the district's resident
marginal pupil units times the difference between ten percent of
the statewide average amount of referendum revenue per resident
marginal cost pupil unit for that year and the district's
referendum revenue per resident marginal cost pupil unit.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for
fiscal year 2006.
new text end