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Minnesota Legislature

Office of the Revisor of Statutes

SF 2414

as introduced - 90th Legislature (2017 - 2018) Posted on 03/02/2018 10:13am

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

Current Version - as introduced

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A bill for an act
relating to education finance; lowering the property tax levy share and increasing
the state aid share of operating referendum revenue for qualifying special school
districts; appropriating money; amending Minnesota Statutes 2016, section 126C.17,
subdivision 6.

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

Section 1.

Minnesota Statutes 2016, section 126C.17, subdivision 6, is amended to read:


Subd. 6.

Referendum equalization levy.

(a) A district's referendum equalization levy
equals the sum of the first tier referendum equalization levy, the second tier referendum
equalization levy, and the third tier referendum equalization levy.

(b) A district's first tier referendum equalization levy equals the district's first tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $880,000.

(c) A district's second tier referendum equalization levy equals the district's second tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $510,000.

(d) A district's third tier referendum equalization levy equals the district's third tier
referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $290,000.

new text begin (e) Notwithstanding paragraphs (a) to (d), the referendum equalization levy for a special
school district located wholly outside the boundaries of a city of the first class equals the
district's referendum equalization revenue times the lesser of one or the ratio of the district's
referendum market value per resident pupil unit to $1,000,000.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for revenue for fiscal year 2019 and later.
new text end

Sec. 2. new text beginADDITIONAL GENERAL EDUCATION AID.
new text end

new text begin $405,000 in fiscal year 2019 is appropriated from the general fund to the commissioner
of education for additional operating referendum equalization aid according to section 1.
This amount is reduced by any other funds directly appropriated for this purpose.
new text end