SF 624

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to education finance; creating a system to
finance replacement school buses; appropriating money.

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

Section 1. new text begin SCHOOL BUS LOAN; CARPENTER SCHOOL BUSES.
new text end

new text begin Subdivision 1. new text end

new text begin Bus loan revenue. new text end

new text begin In fiscal year 2006
only, a school district may receive bus loan revenue equal to up
to $30,000 times the number of Carpenter school buses in its
fleet between March 30, 2003, and March 30, 2004, that have been
determined to have potentially defective welds and are subject
to the limitations imposed by the Department of Public Safety.
A school district that is eligible to receive revenue under this
subdivision must approve a board resolution to receive revenue
according to this section.
new text end

new text begin Subd. 2. new text end

new text begin Levy. new text end

new text begin For taxes payable in 2006 through 2009, a
school district that receives revenue under subdivision 1 must
levy an amount equal to its bus loan revenue times .25.
new text end

new text begin Subd. 3. new text end

new text begin General education revenue withholding. new text end

new text begin For
fiscal years 2007 through 2010, the Department of Education
shall reduce the general education aid under Minnesota Statutes,
section 126C.13, subdivision 4, for each district that receives
revenue under subdivision 1 in an amount equal to the district's
bus loan revenue times .25.
new text end

Sec. 2. new text begin APPROPRIATION; SCHOOL BUS LOAN REVENUE.
new text end

new text begin The sum indicated in this section is appropriated from the
general fund to the commissioner of education for the fiscal
year designated for school bus loan revenue under section 1:
new text end

new text begin $3,630,000 new text end new text begin ..... new text end new text begin 2006
new text end