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Minnesota Legislature

Office of the Revisor of Statutes

SF 24

as introduced - 91st Legislature (2019 - 2020) Posted on 01/10/2019 03:47pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5 1.6
1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15

A bill for an act
relating to education finance; increasing the general education basic formula
allowance; providing annual inflationary increases in the basic formula allowance
for fiscal year 2022 and later;amending Minnesota Statutes 2018, section 126C.10,
subdivision 2.

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

Section 1.

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


Subd. 2.

Basic revenue.

The basic revenue for each district equals the formula allowance
times the adjusted pupil units for the school year. deleted text beginThe formula allowance for fiscal year
2017 is $6,067. The formula allowance for fiscal year 2018 is $6,188.
deleted text end The formula allowance
for fiscal year 2019 deleted text beginand laterdeleted text end is $6,312.new text begin The formula allowance for fiscal year 2020 is $6,502.
The formula allowance for fiscal year 2021 is $6,697. The formula allowance for fiscal
years 2022 and later equals the formula allowance for fiscal year 2021 times one plus the
percentage change in the Consumer Price Index for urban consumers, as prepared by the
United States Bureau of Labor Statistics, for the current fiscal year to fiscal year 2021.
new text end