HF 3693

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/07/2024 05:14pm

A bill for an act
relating to education; creating a third tier of local optional revenue; amending
Minnesota Statutes 2023 Supplement, section 126C.10, subdivision 2e.

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

Section 1.

Minnesota Statutes 2023 Supplement, section 126C.10, subdivision 2e, is
amended to read:

Subd. 2e.

Local optional revenue.

(a) Local optional revenue for a school district equals
the sum of the district's first tier local optional revenue deleted text begin and deleted text end new text begin , new text end second tier local optional
revenue new text begin , and third tier local optional revenue new text end . A district's first tier local optional revenue
equals $300 times the adjusted pupil units of the district for that school year. A district's
second tier local optional revenue equals $424 times the adjusted pupil units of the district
for that school year. new text begin A district's third tier local optional revenue equals a maximum of $362
times the adjusted pupil units of the district for that school year. A district may elect to levy
any amount up to the maximum, at the discretion of the local school board.
new text end

(b) A district's local optional levy equals the sum of the first tier local optional levy and
the second tier local optional levy new text begin , plus the third tier local optional levy if the local school
board has opted to levy new text end .

(c) A district's first tier local optional levy equals the district's first tier local optional
revenue times the lesser of one or the ratio of the district's referendum market value per
resident pupil unit to $880,000.

(d) deleted text begin For fiscal year 2023, a district's second tier local optional levy equals the district's
second tier local optional revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $548,842. deleted text end For fiscal year 2024, a district's
second tier local optional levy equals the district's second tier local optional revenue times
the lesser of one or the ratio of the district's referendum market value per resident pupil unit
to $510,000. For fiscal year 2025, a district's second tier local optional levy equals the
district's second tier local optional revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $587,244. For fiscal year 2026, a district's
second tier local optional levy equals the district's second tier local optional revenue times
the lesser of one or the ratio of the district's referendum market value per resident pupil unit
to $642,038. For fiscal year 2027 and later, a district's second tier local optional levy equals
the district's second tier local optional revenue times the lesser of one or the ratio of the
district's referendum market value per resident pupil unit to $671,345.

(e) The local optional levy must be spread on referendum market value. A district may
levy less than the permitted amount.

(f) A district's local optional aid equals its local optional revenue minus its local optional
levy. If a district's actual levy for first or second new text begin or third new text end tier local optional revenue is less
than its maximum levy limit for that tier, its aid must be proportionately reduced.