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SF 29

as introduced - 91st Legislature (2019 - 2020) Posted on 01/10/2019 03:49pm

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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Current Version - as introduced

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A bill for an act
 relating to education finance; increasing equalization levels for school district local
optional levies; amending Minnesota Statutes 2018, section 126C.10, subdivision
2e.

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

Section 1.

Minnesota Statutes 2018, section 126C.10, subdivision 2e, is amended to read:


Subd. 2e.

Local optional revenue.

(a) Local optional revenue for a school district equals
$424 times the adjusted pupil units of the district for that school year.

(b) A district's local optional levy equals its local optional revenue times the lesser of
one or the ratio of its referendum market value per resident pupil unit to deleted text begin $510,000deleted text end new text begin $.......new text end .
The local optional revenue levy must be spread on referendum market value. A district may
levy less than the permitted amount.

(c) A district's local optional aid equals its local optional revenue less its local optional
levy, times the ratio of the actual amount levied to the permitted levy.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for levies payable in 2020 and later.
 new text end