SF 1988

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to education; providing building lease aid to 
  1.3             area learning centers; amending Minnesota Statutes 
  1.4             1998, section 123A.05, by adding a subdivision. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 1998, section 123A.05, is 
  1.7   amended by adding a subdivision to read: 
  1.8      Subd. 5.  [BUILDING LEASE AID.] When an area learning 
  1.9   center finds it economically advantageous to rent or lease a 
  1.10  building or land for any instructional purpose and it determines 
  1.11  that the total operating capital revenue under section 126C.10, 
  1.12  subdivision 13, is insufficient for this purpose, it may apply 
  1.13  to the commissioner for building lease aid for this purpose.  
  1.14  Criteria for aid approval and revenue uses shall be as defined 
  1.15  for the building lease levy in section 126C.40, subdivision 1, 
  1.16  paragraphs (a) and (b).  The amount of building lease aid per 
  1.17  pupil unit served for an area learning center for any year shall 
  1.18  not exceed the lesser of:  (1) 80 percent of the approved cost; 
  1.19  or (2) the product of the pupil units served for the current 
  1.20  school year times the sum of the state average debt redemption 
  1.21  fund revenue plus capital revenue, according to section 126C.40, 
  1.22  per pupil unit served for the current fiscal year.