HF 4828

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/21/2024 03:47pm

A bill for an act
relating to education finance; modifying the definition of adjusted general revenue;
amending Minnesota Statutes 2022, section 127A.51.

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

Section 1.

Minnesota Statutes 2022, section 127A.51, is amended to read:

127A.51 STATEWIDE AVERAGE REVENUE.

new text begin (a) new text end By December 1 of each year the commissioner must estimate the statewide average
adjusted general revenue per adjusted pupil unit and the disparity in adjusted general revenue
among pupils and districts by computing the ratio of the 95th percentile to the fifth percentile
of adjusted general revenue. The commissioner must provide that information to all districts.

new text begin (b) new text end If the disparity in adjusted general revenue as measured by the ratio of the 95th
percentile to the fifth percentile increases in any year, the commissioner shall recommend
to the legislature options for change in the general education formula that will limit the
disparity in adjusted general revenue to no more than the disparity for the previous school
year. The commissioner must submit the recommended options to the education committees
of the legislature by February 1.

new text begin (c) new text end For purposes of this section and section 126C.10, adjusted general revenue means
the sum of basic revenue under section 126C.10, subdivision 2; referendum revenue under
section 126C.17; local optional revenue under section 126C.10, subdivision 2e; and equity
revenue under section 126C.10, deleted text begin subdivisions 24a and 24b deleted text end new text begin subdivision 24 new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2024.
new text end