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SF 30

as introduced - 91st Legislature (2019 - 2020) Posted on 01/10/2019 03:49pm

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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Current Version - as introduced

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A bill for an act
 relating to education finance; increasing equalization levels for school district and
referendum levies; amending Minnesota Statutes 2018, section 126C.17, subdivision
6.

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

Section 1.

Minnesota Statutes 2018, section 126C.17, subdivision 6, is amended to read:


Subd. 6.

Referendum equalization levy.

(a) A district's referendum equalization levy
equals the sum of the first tier referendum equalization levy, the second tier referendum
equalization levy, and the third tier referendum equalization levy.

(b) A district's first tier referendum equalization levy equals the district's first tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to deleted text begin $880,000deleted text end new text begin $.......new text end .

(c) A district's second tier referendum equalization levy equals the district's second tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to deleted text begin $510,000deleted text end new text begin $.......new text end .

(d) A district's third tier referendum equalization levy equals the district's third tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to deleted text begin $290,000deleted text end new text begin $.......new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for levies payable in 2020 and later.
 new text end