Bill Text: MN HF1032 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Enhanced aid payment schedule authorized for school districts with declining fund balances.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Introduced - Dead) 2013-02-28 - Introduction and first reading, referred to Education Finance [HF1032 Detail]
Download: Minnesota-2013-HF1032-Introduced.html
1.2relating to education finance; authorizing an enhanced aid payment schedule for
1.3school districts with declining fund balances;amending Minnesota Statutes
1.42012, section 127A.45, by adding a subdivision.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 127A.45, is amended by adding a
1.7subdivision to read:
1.8 Subd. 6b. Cash flow; districts with declining fund balances. (a) A school district
1.9that meets the conditions listed in paragraph (b) must have its aid payments made under
1.10subdivision 3 based on a current year aid payment percentage of 90.
1.11(b) A school district qualifies for the enhanced aid payment schedule under
1.12paragraph (a) if the district has notified the commissioner and:
1.13(1) has not passed an operating referendum under section 126C.17 within the last 5
1.14calendar years;
1.15(2) has had a net unreserved general fund balance of less than ten percent of its
1.16general fund expenditures for the last three years; and
1.17(3) has had a decline in its net unreserved general fund balance over the last three
1.18years.
1.19EFFECTIVE DATE.This section is effective the day following final enactment.
1.3school districts with declining fund balances;amending Minnesota Statutes
1.42012, section 127A.45, by adding a subdivision.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 127A.45, is amended by adding a
1.7subdivision to read:
1.8 Subd. 6b. Cash flow; districts with declining fund balances. (a) A school district
1.9that meets the conditions listed in paragraph (b) must have its aid payments made under
1.10subdivision 3 based on a current year aid payment percentage of 90.
1.11(b) A school district qualifies for the enhanced aid payment schedule under
1.12paragraph (a) if the district has notified the commissioner and:
1.13(1) has not passed an operating referendum under section 126C.17 within the last 5
1.14calendar years;
1.15(2) has had a net unreserved general fund balance of less than ten percent of its
1.16general fund expenditures for the last three years; and
1.17(3) has had a decline in its net unreserved general fund balance over the last three
1.18years.
1.19EFFECTIVE DATE.This section is effective the day following final enactment.
