1.1                          A bill for an act
  1.2             relating to education; authorizing debt service 
  1.3             equalization aid for independent school district No. 
  1.4             485, Royalton; appropriating money; amending Minnesota 
  1.5             Statutes 1995 Supplement, section 124.961. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1995 Supplement, section 
  1.8   124.961, is amended to read: 
  1.9      124.961 [DEBT SERVICE APPROPRIATION.] 
  1.10     (a) $30,054,000 in fiscal year 
  1.11  1996, $27,370,000 $27,681,000 in fiscal year 1997, 
  1.12  and $32,200,000 $32,565,000 in fiscal year 1998 and each year 
  1.13  thereafter is appropriated from the general fund to the 
  1.14  commissioner of children, families, and learning for payment of 
  1.15  debt service equalization aid under section 124.95.  The 1998 
  1.16  appropriation includes $4,830,000 $4,884,000 for 1997 and 
  1.17  $27,370,000 $27,681,000 for 1998. 
  1.18     (b) The appropriations in paragraph (a) must be reduced by 
  1.19  the amount of any money specifically appropriated for the same 
  1.20  purpose in any year from any state fund. 
  1.21     Sec. 2.  [APPROVAL FOR DEBT SERVICE EQUALIZATION AID:  
  1.22  ROYALTON.] 
  1.23     Notwithstanding Minnesota Statutes, section 124.95, 
  1.24  subdivision 2, debt service levy attributable to bonds 
  1.25  authorized at an election conducted in 1995 by independent 
  2.1   school district No. 485, Royalton, qualifies for debt service 
  2.2   equalization aid.  
  2.3      Sec. 3.  [EFFECTIVE DATE.] 
  2.4      Sections 1 and 2 are effective the day following final 
  2.5   enactment and apply to debt service equalization aid payments 
  2.6   for fiscal year 1997 and thereafter.