HF 468

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to education; removing minimum school 
  1.3             district size requirements to be eligible for debt 
  1.4             service equalization aid; appropriating money; 
  1.5             amending Minnesota Statutes 1996, section 124.95, 
  1.6             subdivision 2. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1996, section 124.95, 
  1.9   subdivision 2, is amended to read: 
  1.10     Subd. 2.  [ELIGIBILITY.] (a) The following portions of a 
  1.11  district's debt service levy qualify for debt service 
  1.12  equalization: 
  1.13     (1) debt service for repayment of principal and interest on 
  1.14  bonds issued before July 2, 1992; 
  1.15     (2) debt service for bonds refinanced after July 1, 1992, 
  1.16  if the bond schedule has been approved by the commissioner and, 
  1.17  if necessary, adjusted to reflect a 20-year maturity schedule; 
  1.18  and 
  1.19     (3) debt service for bonds issued after July 1, 1992, for 
  1.20  construction projects that have received a positive review and 
  1.21  comment according to section 121.15, if the commissioner has 
  1.22  determined that the district has met the criteria under section 
  1.23  124.431, subdivision 2, and if the bond schedule has been 
  1.24  approved by the commissioner and, if necessary, adjusted to 
  1.25  reflect a 20-year maturity schedule.  
  1.26     (b) The criterion in section 124.431, subdivision 2, 
  2.1   paragraph (a), clause (2), shall be considered to have been met 
  2.2   if the district in the fiscal year in which the bonds are 
  2.3   authorized at an election conducted under chapter 475: 
  2.4      (i) serves an average of at least 66 pupils per grade in 
  2.5   the grades to be served by the facility; or 
  2.6      (ii) is eligible for elementary or secondary sparsity 
  2.7   revenue. 
  2.8      (c) The criterion described in section 124.431, subdivision 
  2.9   2, paragraph (a), clause (9), does not apply to bonds authorized 
  2.10  by elections held before July 1, 1992. 
  2.11     Sec. 2.  [APPROPRIATIONS.] 
  2.12     Subdivision 1.  [DEPARTMENT OF CHILDREN, FAMILIES, AND 
  2.13  LEARNING.] The sums indicated in this section are appropriated 
  2.14  from the general fund to the commissioner of children, families, 
  2.15  and learning for the fiscal years designated. 
  2.16     Subd. 2.  [ADDITIONAL DEBT SERVICE EQUALIZATION AID.] The 
  2.17  appropriation for debt service equalization aid in Minnesota 
  2.18  Statutes, section 124.961, is increased by $765,000 for fiscal 
  2.19  year 1999 and is increased by $1,519,000 for fiscal year 2000 
  2.20  and each year thereafter.  This additional fiscal year 1999 
  2.21  appropriation includes $765,000 for fiscal year 1999.  This 
  2.22  additional fiscal year 2000 appropriation includes $85,000 for 
  2.23  fiscal year 1999 and $1,434,000 for fiscal year 2000.