Bill Text: MN SF767 | 2013-2014 | 88th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Omnibus E-12 finance bill
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2014-03-31 - Comm report: To pass as amended and re-refer to Finance [SF767 Detail]
Download: Minnesota-2013-SF767-Introduced.html
Bill Title: Omnibus E-12 finance bill
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2014-03-31 - Comm report: To pass as amended and re-refer to Finance [SF767 Detail]
Download: Minnesota-2013-SF767-Introduced.html
1.2relating to education finance; removing obsolete language from the calculation of
1.3referendum equalization revenue;amending Minnesota Statutes 2012, section
1.4126C.17, subdivision 5.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 126C.17, subdivision 5, is amended to read:
1.7 Subd. 5. Referendum equalization revenue. (a)For fiscal year 2003 and later,
1.8 A district's referendum equalization revenue equals the sum of the first tier referendum
1.9equalization revenue and the second tier referendum equalization revenue.
1.10(b) A district's first tier referendum equalization revenue equals the district's first
1.11tier referendum equalization allowance times the district's resident marginal cost pupil
1.12units for that year.
1.13(c)For fiscal year 2006, a district's first tier referendum equalization allowance
1.14equals the lesser of the district's referendum allowance under subdivision 1 or $500. For
1.15fiscal year 2007, a district's first tier referendum equalization allowance equals the lesser
1.16of the district's referendum allowance under subdivision 1 or $600.
1.17For fiscal year 2008 and later, A district's first tier referendum equalization allowance
1.18equals the lesser of the district's referendum allowance under subdivision 1 or $700.
1.19(d) A district's second tier referendum equalization revenue equals the district's
1.20second tier referendum equalization allowance times the district's resident marginal cost
1.21pupil units for that year.
1.22(e)For fiscal year 2006, a district's second tier referendum equalization allowance
1.23equals the lesser of the district's referendum allowance under subdivision 1 or 18.6 percent
1.24of the formula allowance, minus the district's first tier referendum equalization allowance.
2.1For fiscal year 2007 and later, A district's second tier referendum equalization allowance
2.2equals the lesser of the district's referendum allowance under subdivision 1 or 26 percent
2.3of the formula allowance, minus the district's first tier referendum equalization allowance.
2.4(f) Notwithstanding paragraph (e), the second tier referendum allowance for a
2.5district qualifying for secondary sparsity revenue under section126C.10, subdivision 7 , or
2.6elementary sparsity revenue under section126C.10, subdivision 8 , equals the district's
2.7referendum allowance under subdivision 1 minus the district's first tier referendum
2.8equalization allowance.
2.9EFFECTIVE DATE.This section is effective July 1, 2013.
1.3referendum equalization revenue;amending Minnesota Statutes 2012, section
1.4126C.17, subdivision 5.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 126C.17, subdivision 5, is amended to read:
1.7 Subd. 5. Referendum equalization revenue. (a)
1.8 A district's referendum equalization revenue equals the sum of the first tier referendum
1.9equalization revenue and the second tier referendum equalization revenue.
1.10(b) A district's first tier referendum equalization revenue equals the district's first
1.11tier referendum equalization allowance times the district's resident marginal cost pupil
1.12units for that year.
1.13(c)
1.14
1.15
1.16
1.17
1.18equals the lesser of the district's referendum allowance under subdivision 1 or $700.
1.19(d) A district's second tier referendum equalization revenue equals the district's
1.20second tier referendum equalization allowance times the district's resident marginal cost
1.21pupil units for that year.
1.22(e)
1.23
1.24
2.1
2.2equals the lesser of the district's referendum allowance under subdivision 1 or 26 percent
2.3of the formula allowance, minus the district's first tier referendum equalization allowance.
2.4(f) Notwithstanding paragraph (e), the second tier referendum allowance for a
2.5district qualifying for secondary sparsity revenue under section
2.6elementary sparsity revenue under section
2.7referendum allowance under subdivision 1 minus the district's first tier referendum
2.8equalization allowance.
2.9EFFECTIVE DATE.This section is effective July 1, 2013.
