SF 3001

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to education finance; including the education 
  1.3             shifts to the future forecast priorities; amending 
  1.4             Minnesota Statutes 2003 Supplement, section 16A.152, 
  1.5             subdivision 2. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2003 Supplement, section 
  1.8   16A.152, subdivision 2, is amended to read: 
  1.9      Subd. 2.  [ADDITIONAL REVENUES; PRIORITY.] (a) If on the 
  1.10  basis of a forecast of general fund revenues and expenditures, 
  1.11  the commissioner of finance determines that there will be a 
  1.12  positive unrestricted budgetary general fund balance at the 
  1.13  close of the biennium, the commissioner of finance must allocate 
  1.14  money to the following accounts and purposes in priority order: 
  1.15     (1) the cash flow account established in subdivision 1 
  1.16  until that account reaches $350,000,000; and 
  1.17     (2) the budget reserve account established in subdivision 
  1.18  1a until that account reaches $653,000,000; 
  1.19     (3) the amount necessary to increase the aid payment 
  1.20  schedule for school district aids and credits payments in 
  1.21  section 127A.45 to not more than 90 percent; and 
  1.22     (4) the amount necessary to eliminate all or a portion of 
  1.23  the property tax revenue recognition shift in section 123B.75, 
  1.24  subdivision 5. 
  1.25     (b) The amounts necessary to meet the requirements of this 
  2.1   section are appropriated from the general fund within two weeks 
  2.2   after the forecast is released or, in the case of transfers 
  2.3   under paragraph (a), clauses (3) and (4), as necessary to meet 
  2.4   the appropriations schedules otherwise established in statute. 
  2.5      (c) To the extent that a positive unrestricted budgetary 
  2.6   general fund balance is projected, appropriations under this 
  2.7   section must be made before any transfer is made under section 
  2.8   16A.1522. 
  2.9      (d) The commissioner of finance shall certify the total 
  2.10  dollar amount of the reductions under paragraph (a), clauses (3) 
  2.11  and (4), to the commissioner of education.  The commissioner of 
  2.12  education shall increase the aid payment percentage and reduce 
  2.13  the property tax shift percentage by these amounts and apply 
  2.14  those reductions to the current fiscal year and thereafter.  
  2.15     [EFFECTIVE DATE.] This section is effective the day 
  2.16  following final enactment.