1.1                          A bill for an act 
  1.2             relating to education finance; restoring 
  1.3             voter-approved referendum amounts in certain 
  1.4             circumstances; amending Minnesota Statutes 2001 
  1.5             Supplement, section 126C.17, subdivision 1.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2001 Supplement, section 
  1.8   126C.17, subdivision 1, is amended to read: 
  1.9      Subdivision 1.  [REFERENDUM ALLOWANCE.] (a) For fiscal year 
  1.10  2002, a district's referendum revenue allowance equals the sum 
  1.11  of the allowance under section 126C.16, subdivision 2, plus any 
  1.12  additional allowance per resident marginal cost pupil unit 
  1.13  authorized under subdivision 9 for fiscal year 2002. 
  1.14     (b) For fiscal year 2003 and later, a district's initial 
  1.15  referendum revenue allowance equals the sum of the allowance 
  1.16  under section 126C.16, subdivision 2, plus any additional 
  1.17  allowance per resident marginal cost pupil unit authorized under 
  1.18  subdivision 9 before May 1, 2001, for fiscal year 2002 and 
  1.19  later, plus the referendum conversion allowance approved under 
  1.20  subdivision 13, minus $415.  For districts with more than one 
  1.21  referendum authority, the reduction must be computed separately 
  1.22  for each authority.  The reduction must be applied first to the 
  1.23  referendum conversion allowance and next to the authority with 
  1.24  the earliest expiration date.  A district's initial referendum 
  1.25  revenue allowance may not be less than zero. 
  2.1      (c) For fiscal year 2003 and later, a district's referendum 
  2.2   revenue allowance equals the initial referendum allowance plus 
  2.3   any additional allowance per resident marginal cost pupil unit 
  2.4   authorized under subdivision 9 after April 30, 2001, for fiscal 
  2.5   year 2003 and later. 
  2.6      (d) For fiscal year 2004 and later, a district that has a 
  2.7   smaller referendum revenue allowance in fiscal year 2003 than it 
  2.8   had in fiscal year 2002 may restore its voter-approved 
  2.9   authority.  A district's maximum authority is equal to its 
  2.10  fiscal year 2002 referendum revenue allowance.  The additional 
  2.11  referendum revenue authority equals the greater of zero or the 
  2.12  difference between the district's maximum authority less its 
  2.13  fiscal year 2003 authority.  The additional authority restored 
  2.14  under this paragraph expires at the earliest expiration of any 
  2.15  of the district's remaining referendum revenue authority.  If a 
  2.16  district has no remaining referendum authority, the added 
  2.17  authority expires after fiscal year 2007.  This authority 
  2.18  becomes available only after the school board of the district 
  2.19  adopts a written resolution approving the increase at a meeting 
  2.20  called for that purpose.  The board must notify the commissioner 
  2.21  of any restored referendum revenue authority. 
  2.22     <b>[EFFECTIVE DATE.]</b> This section is effective for revenue for 
  2.23  fiscal year 2004.