Bill Text: MN HF1 | 2013-2014 | 88th Legislature | Introduced
Bill Title: School district current year aid payment shift percentage restored to 90.
Spectrum: Partisan Bill (Democrat 35-0)
Status: (Introduced - Dead) 2013-01-10 - Introduction and first reading, referred to Education Finance [HF1 Detail]
Download: Minnesota-2013-HF1-Introduced.html
1.2relating to education finance; restoring the school district current year aid
1.3payment shift percentage to 90;amending Minnesota Statutes 2012, section
1.4127A.45, subdivision 2.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 127A.45, subdivision 2, is amended to read:
1.7 Subd. 2. Definitions. (a) "Other district receipts" means payments by county
1.8treasurers pursuant to section276.10 , apportionments from the school endowment fund
1.9pursuant to section127A.33 , apportionments by the county auditor pursuant to section
1.10127A.34, subdivision 2
, and payments to school districts by the commissioner of revenue
1.11pursuant to chapter 298.
1.12(b) "Cumulative amount guaranteed" means the product of
1.13(1) the cumulative disbursement percentage shown in subdivision 3; times
1.14(2) the sum of
1.15(i) the current year aid payment percentage of the estimated aid and credit
1.16entitlements paid according to subdivision 13; plus
1.17(ii) 100 percent of the entitlements paid according to subdivisions 11 and 12; plus
1.18(iii) the other district receipts.
1.19(c) "Payment date" means the date on which state payments to districts are made
1.20by the electronic funds transfer method. If a payment date falls on a Saturday, a Sunday,
1.21or a weekday which is a legal holiday, the payment shall be made on the immediately
1.22preceding business day. The commissioner may make payments on dates other than
1.23those listed in subdivision 3, but only for portions of payments from any preceding
2.1payment dates which could not be processed by the electronic funds transfer method due
2.2to documented extenuating circumstances.
2.3(d) The current year aid payment percentage equals73 in fiscal year 2010 and 70 in
2.4fiscal year 2011, and 60 90 in fiscal years 2012 2014 and later.
2.5EFFECTIVE DATE.This section is effective July 1, 2013.
1.3payment shift percentage to 90;amending Minnesota Statutes 2012, section
1.4127A.45, subdivision 2.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 127A.45, subdivision 2, is amended to read:
1.7 Subd. 2. Definitions. (a) "Other district receipts" means payments by county
1.8treasurers pursuant to section
1.9pursuant to section
1.11pursuant to chapter 298.
1.12(b) "Cumulative amount guaranteed" means the product of
1.13(1) the cumulative disbursement percentage shown in subdivision 3; times
1.14(2) the sum of
1.15(i) the current year aid payment percentage of the estimated aid and credit
1.16entitlements paid according to subdivision 13; plus
1.17(ii) 100 percent of the entitlements paid according to subdivisions 11 and 12; plus
1.18(iii) the other district receipts.
1.19(c) "Payment date" means the date on which state payments to districts are made
1.20by the electronic funds transfer method. If a payment date falls on a Saturday, a Sunday,
1.21or a weekday which is a legal holiday, the payment shall be made on the immediately
1.22preceding business day. The commissioner may make payments on dates other than
1.23those listed in subdivision 3, but only for portions of payments from any preceding
2.1payment dates which could not be processed by the electronic funds transfer method due
2.2to documented extenuating circumstances.
2.3(d) The current year aid payment percentage equals
2.4
2.5EFFECTIVE DATE.This section is effective July 1, 2013.
