HF 3358

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

A bill for an act
relating to education finance; increasing equity revenue for districts above
the 95th percentile; amending Minnesota Statutes 2005 Supplement, section
126C.10, subdivision 24.

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

Section 1.

Minnesota Statutes 2005 Supplement, 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.

(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. 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 unit.

(g) A district that does not qualify for revenue under paragraph (f) qualifies for
equity revenue equal to deleted text begin one-half of the per pupil allowance in paragraph (f) deleted text end new text begin $46 new text end times its
adjusted marginal cost pupil units.