as introduced - 89th Legislature (2015 - 2016) Posted on 01/14/2015 11:10am
|Introduction||Posted on 01/14/2015|
A bill for an act
relating to education finance; modifying certain equity formulas; amending
Minnesota Statutes 2014, section 126C.10, subdivision 24.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2014, section 126C.10, subdivision 24, is amended to
(a) A school district qualifies for equity revenue if:
(1) the school district's adjusted pupil unit amount of basic revenue, transition
revenue, and referendum revenue is less than the value of the school district at or
immediately above the 95th percentile of school districts in its equity region for those
revenue categories; and
(2) the school district's administrative offices are not located in a city of the first
class on July 1, 1999.
(b) Equity revenue for a qualifying district that receives referendum revenue under
section 126C.17, subdivision 4, equals the product of (1) the district's adjusted pupil
units for that year; times (2) the sum of (i) $14, plus (ii) $80, times the school district's
equity index computed under subdivision 27.
(c) Equity revenue for a qualifying district that does not receive referendum revenue
under section 126C.17, subdivision 4, equals the product of the district's adjusted pupil
units for that year times $14.
(d) A school district's equity revenue is increased by the greater of zero or an amount
equal to the district's adjusted pupil units times the difference between ten percent of the
statewide average amount of referendum revenue per adjusted pupil unit for that year and
the district's referendum revenue per adjusted pupil unit. A school district's revenue under
this paragraph must not exceed $100,000 for that year.
(e) A school district's equity revenue for a school district located in the metro equity
region new text beginnew text endequals the amount computed in paragraphs (b), (c),
and (d) multiplied by 1.25.
(f) A school district's additional equity revenue equals $50 times its adjusted pupil
new text begin new text end