1.1 	A bill for an act
1.2 	relating to education finance; increasing equalization levels for school district and 
1.3 	referendum levies;amending Minnesota Statutes 2018, section 126C.17, subdivision 
1.4 	6.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2018, section 126C.17, subdivision 6, is amended to read:
1.7 		Subd. 6.Referendum equalization levy. (a) A district's referendum equalization levy 
1.8 	equals the sum of the first tier referendum equalization levy, the second tier referendum 
1.9 	equalization levy, and the third tier referendum equalization levy.
1.10 	(b) A district's first tier referendum equalization levy equals the district's first tier 
1.11 	referendum equalization revenue times the lesser of one or the ratio of the district's 
1.12 	referendum market value per resident pupil unit to $880,000 $........
1.13 	(c) A district's second tier referendum equalization levy equals the district's second tier 
1.14 	referendum equalization revenue times the lesser of one or the ratio of the district's 
1.15 	referendum market value per resident pupil unit to $510,000 $........
1.16 	(d) A district's third tier referendum equalization levy equals the district's third tier 
1.17 	referendum equalization revenue times the lesser of one or the ratio of the district's 
1.18 	referendum market value per resident pupil unit to $290,000 $........

1.19 	EFFECTIVE DATE. This section is effective for levies payable in 2020 and later.