Minnesota Legislature
SF 737
as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am
Current Version - as introduced
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A bill for an act
relating to education finance; increasing the basic
formula allowance; amending Minnesota Statutes 2004,
section 126C.10, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2004, section 126C.10,
subdivision 2, is amended to read:
Subd. 2.
Basic revenue.
new text begin (a) new text end The basic revenue for each
district equals the formula allowance times the adjusted
marginal cost pupil units for the school year. deleted text begin The formula
allowance for fiscal year 2001 is $3,964. The formula allowance
for fiscal year 2002 is $4,068.deleted text end The formula allowance for
fiscal year 2003 deleted text begin and subsequent years deleted text end new text begin through fiscal year 2005
new text end
is $4,601.
new text begin
(b) The basic formula allowance in paragraph (a) is
increased by $....... for fiscal year 2006 and by $....... for
fiscal year 2007 and later.
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for revenue for
fiscal year 2006.
new text end