Bill Text: MN SF2089 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Teacher retirement costs school districts additional levy authorization
Sponsorship: Partisan Bill (Democrat 2)
Status: (Introduced - Dead) 2012-02-27 - Referred to Education [SF2089 Detail]
Download: Minnesota-2011-SF2089-Introduced.html
1.2relating to education finance; authorizing school districts to levy for changes to
1.3employer contribution for teacher retirement;amending Minnesota Statutes
1.42010, section 126C.41, by adding a subdivision.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2010, section 126C.41, is amended by adding a
1.7subdivision to read:
1.8 Subd. 7. Levy authority for additional teacher retirement costs. A school district
1.9annually may levy for the costs associated with higher employer contribution rates to a
1.10teacher retirement fund. The amount of the levy for each district must not exceed the
1.11product of the salary of all coordinated members for the previous year times the difference
1.12between the contribution rate for coordinated members for the current year and the
1.13contribution rate for coordinated members as of June 30, 2011.
1.14EFFECTIVE DATE.This section is effective for taxes payable in 2013 and later.
1.3employer contribution for teacher retirement;amending Minnesota Statutes
1.42010, section 126C.41, by adding a subdivision.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2010, section 126C.41, is amended by adding a
1.7subdivision to read:
1.8 Subd. 7. Levy authority for additional teacher retirement costs. A school district
1.9annually may levy for the costs associated with higher employer contribution rates to a
1.10teacher retirement fund. The amount of the levy for each district must not exceed the
1.11product of the salary of all coordinated members for the previous year times the difference
1.12between the contribution rate for coordinated members for the current year and the
1.13contribution rate for coordinated members as of June 30, 2011.
1.14EFFECTIVE DATE.This section is effective for taxes payable in 2013 and later.
