SF 3627

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 equalizing 
  1.3             factor in the debt service equalization program; 
  1.4             amending Minnesota Statutes 1999 Supplement, section 
  1.5             123B.53, subdivision 5. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1999 Supplement, section 
  1.8   123B.53, subdivision 5, is amended to read: 
  1.9      Subd. 5.  [EQUALIZED DEBT SERVICE LEVY.] To obtain debt 
  1.10  service equalization revenue, a district must levy an amount not 
  1.11  to exceed the district's debt service equalization revenue times 
  1.12  the lesser of one or the ratio of: 
  1.13     (1) the quotient derived by dividing the adjusted net tax 
  1.14  capacity of the district for the year before the year the levy 
  1.15  is certified by the adjusted pupil units in the district for the 
  1.16  school year ending in the year prior to the year the levy is 
  1.17  certified; to 
  1.18     (2) $4,000 $5,000. 
  1.19     Sec. 2.  [EFFECTIVE DATE.] 
  1.20     Section 1 is effective for revenue in fiscal year 2001.