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HF 3171

as introduced - 91st Legislature (2019 - 2020) Posted on 03/04/2020 04:30pm

KEY: stricken = removed, old language.
underscored = added, new language.
Line numbers 1.1 1.2 1.3 1.4 1.5
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2.1

A bill for an act
relating to education finance; indexing the operating referendum equalizing factor;
increasing the state aid for operating referendums; amending Minnesota Statutes
2019 Supplement, section 126C.17, subdivision 6.

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

Section 1.

Minnesota Statutes 2019 Supplement, section 126C.17, subdivision 6, is amended
to read:


Subd. 6.

Referendum equalization levy.

(a) A district's referendum equalization levy
equals the sum of the first tier referendum equalization levy and the second tier referendum
equalization levy.

(b) A district's first tier referendum equalization levy equals the district's first tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to deleted text begin$567,000deleted text endnew text begin 125 percent of the statewide
referendum market value equalizing factor
new text end.

(c) A district's second tier referendum equalization levy equals the district's second tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to deleted text begin$290,000deleted text endnew text begin 50 percent of the statewide
referendum market value equalizing factor
new text end.

new text begin (d) For purposes of this subdivision, the statewide referendum market value equalizing
factor equals the quotient derived by dividing the total referendum market value of all the
school districts in the state for the year before the year the levy is certified by the resident
pupil units of all school districts for the current fiscal year.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for fiscal year 2022 and later.
new text end