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SF 944

as introduced - 90th Legislature (2017 - 2018) Posted on 02/23/2017 10:10am

KEY: stricken = removed, old language. underscored = added, new language.

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Current Version - as introduced

A bill for an act
relating to education finance; clarifying the operating capital levy;amending
Minnesota Statutes 2016, section 126C.10, subdivision 13a.

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

Section 1.

Minnesota Statutes 2016, section 126C.10, subdivision 13a, is amended to read:


Subd. 13a.

Operating capital levy.

To obtain operating capital revenue, a district may
levy an amount not more than the product of its operating capital revenue for the fiscal year
times the lesser of one or the ratio of its adjusted net tax capacity per adjusted pupil unit to
the operating capital equalizing factor. The operating capital equalizing factor equals $15,740
for fiscal year 2017,
$19,972 for fiscal year 2018, and $22,912 for fiscal year 2019 and
later.

EFFECTIVE DATE.

This section is effective for revenue for fiscal year 2018 and later.

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