HF 3156

as introduced - 86th Legislature (2009 - 2010) Posted on 02/24/2010 04:40pm

A bill for an act
relating to education finance; modifying the equity revenue formula; amending
Minnesota Statutes 2009 Supplement, section 126C.10, subdivision 24.

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

Section 1.

Minnesota Statutes 2009 Supplement, section 126C.10, subdivision 24,
is amended to read:

Subd. 24.

Equity revenue.

(a) A school district qualifies for equity revenue if deleted text begin :
deleted text end

deleted text begin (1) the school district's adjusted marginal cost pupil unit amount of basic 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
deleted text end

deleted text begin (2) deleted text end 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.

(d) A school district's equity revenue is increased by the greater of zero or an amount
equal to the district's resident marginal cost 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. A school district's revenue under this paragraph must not exceed $100,000 for
that year.

(e) A school district's equity revenue for a school district located in the metro equity
region equals the amount computed in paragraphs (b), (c), and (d) multiplied by 1.25.

(f) For fiscal year 2007 and later, notwithstanding paragraph (a), clause (2), a school
district that has per pupil referendum revenue below the 95th percentile qualifies for
additional equity revenue equal to $46 times its adjusted marginal cost pupil units.

(g) A district that does not qualify for revenue under paragraph (f) qualifies for
equity revenue equal to $46 times its adjusted marginal cost pupil units.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal years 2011
and later.
new text end