Minnesota Legislature
HF 3694
as introduced - 93rd Legislature (2023 - 2024) Posted on 02/22/2024 04:30pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 02/13/2024 |
Current Version - as introduced
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A bill for an act
relating to education; modifying referendum allowance limit; amending Minnesota
Statutes 2022, section 126C.17, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2022, section 126C.17, subdivision 2, is amended to read:
Subd. 2.
Referendum allowance limit.
(a) Notwithstanding subdivision 1, for fiscal
year 2021 and later, a district's referendum allowance must not exceed the greater of:
(1) the product of the annual inflationary increase as calculated under paragraph (b),
and deleted text begin $2,079.50deleted text end new text begin $2,829.50new text end , minus $300;
(2) the product of the annual inflationary increase as calculated under paragraph (b),
and the referendum allowance limit the district would have received for fiscal year 2021
under Minnesota Statutes 2018, section 126C.17, subdivision 2, paragraph (a), clause (2),
minus $300;
(3) for a newly reorganized district created on July 1, 2020, the referendum revenue
authority for each reorganizing district in the year preceding reorganization divided by its
adjusted pupil units for the year preceding reorganization, minus $300; or
(4) for a newly reorganized district created after July 1, 2020, the referendum revenue
authority for each reorganizing district in the year preceding reorganization divided by its
adjusted pupil units for the year preceding reorganization.
(b) For purposes of this subdivision, for fiscal year 2022 and later, "inflationary increase"
means one plus the percentage change in the Consumer Price Index for urban consumers,
as prepared by the United States Bureau of Labor Statistics, for the current fiscal year to
fiscal year 2021.