as introduced - 89th Legislature (2015 - 2016) Posted on 08/14/2015 01:43pm
A bill for an act
relating to education finance; increasing the formula allowance; amending Minnesota Statutes 2014, section 126C.10, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2014, section 126C.10, subdivision 2, is amended to read:
For fiscal year 2014, the basic revenue for each district
equals the formula allowance times the adjusted marginal cost pupil units for the school
year. For fiscal year 2015 and later, the basic revenue for each district equals the formula
allowance times the adjusted pupil units for the school year. The formula allowance for
fiscal year 2013 is $5,224. The formula allowance for fiscal year 2014 is $5,302. The
formula allowance for fiscal year 2015 deleted text begin and laterdeleted text end is $5,831.new text begin The formula allowance for
fiscal year 2016 and later is $6,131.
new text end
new text begin
This section is effective for revenue in fiscal year 2016 and
later.
new text end