SF 2543

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; increasing the equity revenue 
  1.3             program; appropriating money; amending Minnesota 
  1.4             Statutes 1999 Supplement, section 126C.10, subdivision 
  1.5             24. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1999 Supplement, section 
  1.8   126C.10, subdivision 24, is amended to read: 
  1.9      Subd. 24.  [EQUITY REVENUE.] (a) A school district 
  1.10  qualifies for equity revenue if the school district's adjusted 
  1.11  marginal cost pupil unit amount of basic revenue, supplemental 
  1.12  revenue, transition revenue, and referendum revenue is less than 
  1.13  the 90th 95th percentile of school districts in its equity 
  1.14  region for those revenue categories and the school district's 
  1.15  administrative offices are not located in a city of the first 
  1.16  class on July 1, 1999. 
  1.17     (b) Equity revenue for a qualifying district that receives 
  1.18  referendum revenue under section 126C.17, subdivision 4, equals 
  1.19  the product of (1) the district's adjusted marginal cost pupil 
  1.20  units for that year; times (2) the sum of (i) $10 $20, plus (ii) 
  1.21  $30 $60, times the school district's equity index computed under 
  1.22  section 126C.10, subdivision 6. 
  1.23     (c) Equity revenue for a qualifying district that does not 
  1.24  receive referendum revenue under section 126C.17, subdivision 4, 
  1.25  equals the product of the district's adjusted marginal cost 
  2.1   pupil units for that year times $10. 
  2.2      Sec. 2.  [EFFECTIVE DATE.] 
  2.3      Section 1 is effective for revenue in fiscal year 2001.