1.1                          A bill for an act 
  1.2             relating to education; modifying equity revenue for 
  1.3             school districts; amending Minnesota Statutes 2001 
  1.4             Supplement, section 126C.10, subdivision 24. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 2001 Supplement, section 
  1.7   126C.10, subdivision 24, is amended to read: 
  1.8      Subd. 24.  [EQUITY REVENUE.] (a) A school district 
  1.9   qualifies for equity revenue if: 
  1.10     (1) the school district's adjusted marginal cost pupil unit 
  1.11  amount of basic revenue, supplemental revenue, transition 
  1.12  revenue, and referendum revenue is less than the value of the 
  1.13  school district at or immediately above the ~~95th~~ 90th percentile 
  1.14  of school districts in its equity region for those revenue 
  1.15  categories; and 
  1.16     (2) the school district's administrative offices are not 
  1.17  located in a city of the first class on July 1, 1999. 
  1.18     (b) Equity revenue for a qualifying district that receives 
  1.19  referendum revenue under section 126C.17, subdivision 4, or had 
  1.20  a referendum allowance, under section 126C.17, subdivision 1, 
  1.21  for fiscal year 2002 of less than or equal to $415 per resident 
  1.22  marginal cost pupil unit, equals the product of (1) the 
  1.23  district's adjusted marginal cost pupil units for that year; 
  1.24  times (2) the sum of (i) $10, plus (ii) $55, times the school 
  1.25  district's equity index computed under subdivision 27. 
  2.1      (c) Equity revenue for a qualifying district that does not 
  2.2   receive referendum revenue under section 126C.17, subdivision 4, 
  2.3   and did not have a referendum allowance, under section 126C.17, 
  2.4   subdivision 1, for fiscal year 2002 of less than or equal to 
  2.5   $415 per resident marginal cost pupil unit, equals the product 
  2.6   of the district's adjusted marginal cost pupil units for that 
  2.7   year times $10. 
  2.8      (d) A district that had a referendum allowance, under 
  2.9   section 126C.17, subdivision 1, of less than or equal to $415 
  2.10  per resident marginal cost pupil unit for fiscal year 2002 shall 
  2.11  have the district's fiscal year 2002 referendum allowance added 
  2.12  to the calculation under paragraph (a) for the purposes of 
  2.13  computing equity revenue if that district's referendum authority 
  2.14  for fiscal year 2003 and later is zero. 
  2.15     <b>[EFFECTIVE DATE.]</b> This section is effective the day 
  2.16  following final enactment.