1.1                          A bill for an act 
  1.2             relating to education finance; creating a permanent 
  1.3             funding source for career and technical education; 
  1.4             proposing coding for new law in Minnesota Statutes, 
  1.5             chapter 126C. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [126C.475] [CAREER AND TECHNICAL LEVY.] 
  1.8      For taxes payable in 2003 and later, a school district may 
  1.9   levy an amount equal to the greater of (1) $25,000, or (2) the 
  1.10  district's fiscal year 2001 entitlement for career and technical 
  1.11  aid under section 124D.453 increased by five percent for each 
  1.12  year since fiscal year 2001.  The district must recognize the 
  1.13  full amount of this levy as revenue for the fiscal year in which 
  1.14  it is certified.