as introduced - 88th Legislature (2013 - 2014) Posted on 02/28/2013 11:40am
A bill for an act
relating to education finance; authorizing an enhanced aid payment schedule for
school districts with declining fund balances; amending Minnesota Statutes
2012, section 127A.45, by adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2012, section 127A.45, is amended by adding a
subdivision to read:
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(a) A school district
that meets the conditions listed in paragraph (b) must have its aid payments made under
subdivision 3 based on a current year aid payment percentage of 90.
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(b) A school district qualifies for the enhanced aid payment schedule under
paragraph (a) if the district has notified the commissioner and:
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(1) has not passed an operating referendum under section 126C.17 within the last 5
calendar years;
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(2) has had a net unreserved general fund balance of less than ten percent of its
general fund expenditures for the last three years; and
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(3) has had a decline in its net unreserved general fund balance over the last three
years.
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This section is effective the day following final enactment.
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