2007 Minnesota Statutes

127A.441 AID REDUCTION; LEVY REVENUE RECOGNITION CHANGE.
    Each year, the state aids payable to any school district for that fiscal year that are recognized
as revenue in the school district's general and community service funds shall be adjusted by an
amount equal to (1) the amount the district recognized as revenue for the prior fiscal year pursuant
to section 123B.75, subdivision 5, paragraph (b), minus (2) the amount the district recognized
as revenue for the current fiscal year pursuant to section 123B.75, subdivision 5, paragraph (b).
For purposes of making the aid adjustments under this section, the amount the district recognizes
as revenue for either the prior fiscal year or the current fiscal year pursuant to section 123B.75,
subdivision 5 , paragraph (b), shall not include any amount levied pursuant to section 124D.86,
subdivision 4 , for school districts receiving revenue under sections 124D.86, subdivision 3,
clauses (1), (2), and (3); 126C.41, subdivisions 1, 2, and 3, paragraphs (b), (c), and (d); 126C.43,
subdivision 2 ; 126C.457; and 126C.48, subdivision 6. Payment from the permanent school fund
shall not be adjusted pursuant to this section. The school district shall be notified of the amount of
the adjustment made to each payment pursuant to this section.
History: 1Sp2003 c 9 art 5 s 11; 2007 c 146 art 1 s 15