Minnesota Legislature
HF 2715
as introduced - 89th Legislature (2015 - 2016) Posted on 03/10/2016 05:26pm
1.8 1.9 1.10 1.11 1.12 1.13
1.14 1.15
1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23
2.1 2.2
2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13 2.14
2.15 2.16
A bill for an act
relating to education finance; increasing funding for school districts; indexing
the general education basic formula allowance and local optional revenue to the
annual increase in the rate of inflation; appropriating money; amending Minnesota
Statutes 2014, sections 126C.01, by adding a subdivision; 126C.10, subdivision
2e; Minnesota Statutes 2015 Supplement, section 126C.10, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2014, section 126C.01, is amended by adding a
subdivision to read:
new text begin Subd. 12. new text end
new text begin Basic revenue growth factor. new text end
new text begin
The basic revenue growth factor equals
one plus the percentage change in the Consumer Price Index for urban consumers, as
prepared by the United States Bureau of Labor Standards, for the current fiscal year to
fiscal year 2017.
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for revenue for fiscal year 2018
and later.
new text end
Sec. 2.
Minnesota Statutes 2015 Supplement, 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 pupil units for the school year. deleted text begin The formula allowance for
fiscal year 2015 is $5,831.deleted text end The formula allowance for fiscal year 2016 is $5,948. The
formula allowance for fiscal year 2017 deleted text begin and laterdeleted text end is $6,067.new text begin The formula allowance for
fiscal year 2018 and later equals the formula allowance for fiscal year 2017 times the basic
revenue growth factor under section 126C.01, subdivision 12.
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for revenue for fiscal year 2018
and later.
new text end
Sec. 3.
Minnesota Statutes 2014, section 126C.10, subdivision 2e, is amended to read:
Subd. 2e.
Local optional revenue.
(a) Local optional revenue for a school district
equalsnew text begin the product of:
new text end
new text begin
(1) the basic revenue growth factor under section 126C.01, subdivision 12;
new text end
new text begin (2) new text end $424 deleted text begin timesdeleted text end new text begin ; and
new text end
new text begin (3)new text end 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 $510,000.
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 EFFECTIVE DATE. new text end
new text begin
This section is effective for revenue for fiscal year 2018
and later.
new text end