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.
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