SF 1028

as introduced - 91st Legislature (2019 - 2020) Posted on 02/11/2019 02:15pm

A bill for an act
relating to education finance; increasing general education basic formula allowance
by three percentage points per year; linking future increases in general education
basic formula allowance to rate of inflation; appropriating money; amending
Minnesota Statutes 2018, section 126C.10, subdivision 2.

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

Section 1.

Minnesota Statutes 2018, 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 pupil units for the school year. deleted text begin The formula allowance for
fiscal year 2017 is $6,067. The formula allowance for fiscal year 2018 is $6,188.
deleted text end

new text begin (b) new text end The formula allowance for fiscal year 2019 deleted text begin and later deleted text end is $6,312. new text begin The formula allowance
for fiscal year 2020 is $6,501. The formula allowance for fiscal year 2021 is $6,696.
new text end

new text begin (c) For fiscal year 2022 and later, the formula allowance equals the formula allowance
for fiscal year 2021 times the inflationary increase for that year.
new text end

new text begin (d) For purposes of this subdivision, "inflationary increase" means one plus the percentage
change in the Consumer Price Index for urban consumers, as prepared by the United States
Bureau of Labor Standards, from the current fiscal year to fiscal year 2021.
new text end

Sec. 2. new text begin APPROPRIATIONS; GENERAL EDUCATION INCREASE.
new text end

new text begin Subdivision 1. new text end

new text begin Commissioner of education. new text end

new text begin The sums indicated in this section are
appropriated from the general fund to the commissioner of education in the fiscal year
designated.
new text end

new text begin Subd. 2. new text end

new text begin General education aid. new text end

new text begin (a) For general education aid under Minnesota Statutes,
section 126C.13:
new text end

	new text begin $ new text end	new text begin ....... new text end	new text begin ..... new text end	new text begin 2020 new text end
	new text begin $ new text end	new text begin ....... new text end	new text begin ..... new text end	new text begin 2021 new text end

new text begin (b) The amounts appropriated under this subdivision are reduced by any other amounts
appropriated for this purpose.
new text end