1.1                          A bill for an act 
  1.2             relating to education funding; creating an equity aid 
  1.3             component of general education revenue; appropriating 
  1.4             money; amending Minnesota Statutes 1998, section 
  1.5             126C.10, subdivision 1, and by adding a subdivision. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1998, section 126C.10, 
  1.8   subdivision 1, is amended to read: 
  1.9      Subdivision 1.  [GENERAL EDUCATION REVENUE.] For fiscal 
  1.10  year 1999 2000 and thereafter, the general education revenue for 
  1.11  each district equals the sum of the district's basic revenue, 
  1.12  basic skills revenue, training and experience revenue, secondary 
  1.13  sparsity revenue, elementary sparsity revenue, transportation 
  1.14  sparsity revenue, total operating capital revenue, graduation 
  1.15  standards implementation revenue, equity revenue, transition 
  1.16  revenue, and supplemental revenue. 
  1.17     Sec. 2.  Minnesota Statutes 1998, section 126C.10, is 
  1.18  amended by adding a subdivision to read: 
  1.19     Subd. 23.  [EQUITY REVENUE.] (a) A school district is 
  1.20  eligible for an equity revenue adjustment if the school 
  1.21  district's general education revenue, including referendum 
  1.22  revenue, calculated under this section and section 126C.17, is 
  1.23  in the lowest 25th percentile of general education revenue per 
  1.24  pupil unit for that year. 
  1.25     (b) Equity revenue for an eligible district equals the 
  2.1   difference between the per pupil unit dollar amount of general 
  2.2   education revenue computed prior to the addition of equity 
  2.3   revenue for the 25th percentile and the district's general 
  2.4   education revenue per pupil unit for that year. 
  2.5      Sec. 3.  [EFFECTIVE DATE.] 
  2.6      Sections 1 and 2 are effective for revenue for 1999-2000 
  2.7   and later school years.