SF 4127

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/22/2022 08:19am

A bill for an act
relating to education finance; creating a third tier of local optional revenue;
appropriating money; amending Minnesota Statutes 2021 Supplement, section
126C.10, subdivision 2e.

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

Section 1.

Minnesota Statutes 2021 Supplement, section 126C.10, subdivision 2e, is
amended to read:

Subd. 2e.

Local optional revenue.

(a) deleted text begin For fiscal year 2021 and later, deleted text end Local optional
revenue for a school district equals the sum of the district's first tier new text begin , second tier, and third
tier of new text end local optional revenue deleted text begin and second tier local optional revenue deleted text end .

new text begin (b) new text end A district's first tier local optional revenue equals $300 times the adjusted pupil units
of the district for that school year.

new text begin (c) new text end A district's second tier local optional revenue equals $424 times the adjusted pupil
units of the district for that school year.

new text begin (d) A district's third tier local optional revenue equals the lesser of:
new text end

new text begin (1) $362 times the adjusted pupil units for that year; or
new text end

new text begin (2) the greater of zero or the product of the district's adjusted pupil units for the current
year and the difference between the statewide average general fund aid per pupil unit for
the second previous year and the district's general fund state aid per pupil unit in the second
previous year.
new text end

deleted text begin (b) For fiscal year 2021 and later, deleted text end new text begin (e) new text end A district's local optional levy equals the sum of
the first tier local optional levy and the second tier local optional levy.

deleted text begin (c) deleted text end new text begin (f) new text end A district's first tier local optional levy equals the district's first tier local optional
revenue times the lesser of one or the ratio of the district's referendum market value per
resident pupil unit to $880,000.

deleted text begin (d) For fiscal year 2022, a district's second tier local optional levy equals the district's
second tier local optional revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $510,000.
deleted text end

new text begin (g) new text end For fiscal year 2023, a district's second tier local optional levy equals the district's
second tier local optional revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $548,842. For fiscal year 2024 and later,
a district's second tier local optional levy equals the district's second tier local optional
revenue times the lesser of one or the ratio of the district's referendum market value per
resident pupil unit to $510,000.

deleted text begin (e) deleted text end new text begin (h) new text end The local optional levy must be spread on referendum market value. A district
may levy less than the permitted amount.

deleted text begin (f) deleted text end new text begin (i) new text end A district's local optional aid equals its local optional revenue minus its local
optional levy. If a district's actual levy for first or second tier local optional revenue is less
than its maximum levy limit for that tier, its aid must be proportionately reduced.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for fiscal year 2023 and later.
new text end

Sec. 2. new text begin APPROPRIATION; LOCAL OPTIONAL REVENUE.
new text end

new text begin $....... in fiscal year 2023 is appropriated from the general fund to the Department of
Education for additional general education aid required under section 1.
new text end