1997 Minnesota Statutes

     124A.029 Referendum and desegregation revenue conversion.

    Subdivision 1.    Revenue conversion.  Except as 
 provided under subdivision 4, the referendum authority under 
 section 124A.03 and the levy authority under section 124.912, 
 subdivisions 2 and 3, of a school district must be converted by 
 the department according to this section. 

    Subd. 2.    Adjustment ratio.  For assessment years 
 1991, 1992, and 1993, the commissioner of revenue must determine 
 for each school district a ratio equal to: 

    (1) the net tax capacity for taxable property in the 
 district determined by applying the property tax class rates for 
 assessment year 1990 to the market values of taxable property 
 for each assessment year, divided by 

    (2) the net tax capacity of the district for the assessment 
 year. 

    Subd. 3.    Rate adjustment.  The department shall 
 adjust a school district's referendum authority for a referendum 
 approved before July 1, 1991, excluding authority based on a 
 dollar amount, and the levy authority under section 124.912, 
 subdivisions 2 and 3, by multiplying the sum of the rates 
 authorized by a district under section 124A.03 and the rates in 
 section 124.912, subdivisions 2 and 3, by the ratio determined 
 under subdivision 2 for the assessment year for which the 
 revenue is attributable.  The adjusted rates for assessment year 
 1993 shall apply to later years for which the revenue is 
 authorized. 

    Subd. 4.    Per pupil revenue conversion.  (a) The 
 department shall convert each district's referendum revenue 
 authority for fiscal year 2002 and later years to an allowance 
 per pupil unit as follows:  the revenue allowance equals the 
 amount determined by dividing the district's maximum revenue 
 under section 124A.03, for fiscal year 2001 by the district's 
 2000-2001 actual pupil units.  A district's maximum revenue for 
 all later years for which the revenue is authorized equals the 
 revenue allowance times the district's actual pupil units for 
 that year.  

    (b) The referendum allowance reduction shall be applied 
 first to the authority with the earliest expiration date. 

    HIST: 1991 c 130 s 37; 1992 c 499 art 1 s 10; art 12 s 29; 
 1993 c 224 art 15 s 1; 1994 c 647 art 1 s 15; 1996 c 412 art 1 s 
 14