as introduced - 91st Legislature (2019 - 2020) Posted on 01/10/2019 03:49pm
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
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2018, section 126C.10, subdivision 2e, is amended to read:
(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 endnew text beginnew 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 new text end