HF 2894

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

A bill for an act
relating to education finance; creating a new state aid designed to stabilize certain
school district finances; amending Minnesota Statutes 2004, section 126C.10, by
adding a subdivision; Minnesota Statutes 2005 Supplement, section 126C.10,
subdivision 1.

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

Section 1.

Minnesota Statutes 2005 Supplement, section 126C.10, subdivision 1, is
amended to read:

Subdivision 1.

General education revenue.

For fiscal year 2006 2007 and later, the
general education revenue for each district equals the sum of the district's basic revenue,
extended time revenue, enrollment options stabilization revenue, gifted and talented
revenue, basic skills revenue, training and experience revenue, secondary sparsity revenue,
elementary sparsity revenue, transportation sparsity revenue, total operating capital
revenue, equity revenue, alternative teacher compensation revenue, and transition revenue.

EFFECTIVE DATE.

This section is effective July 1, 2006.

Sec. 2.

Minnesota Statutes 2004, section 126C.10, is amended by adding a subdivision
to read:

Subd. 2c.

Enrollment options stabilization revenue.

A school district is eligible
for enrollment stabilization revenue equal to the lesser of: (1) $200,000; or (2) the greater
of zero, or the product of the district's adjusted marginal cost pupil units for that year
times 20 percent of the basic formula allowance under subdivision 2 times the net number
of adjusted marginal cost pupil units leaving the district under the enrollment options
program under section 124D.03 for that year.

EFFECTIVE DATE.

This section is effective for revenue for fiscal year 2007.