2006 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) or (c), minus (2) the amount the district
recognized as revenue for the current fiscal year pursuant to section 123B.75, subdivision 5,
paragraph (c). 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) or (c), 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