Bill Text: MN SF1752 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Education finance equalization aid levels for operating referendum and debt service equalization aid programs modification
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: (Introduced - Dead) 2012-02-09 - Referred to Education [SF1752 Detail]
Download: Minnesota-2011-SF1752-Introduced.html
1.2relating to education finance; increasing the equalization aid levels for the
1.3operating referendum and debt service equalization aid programs;amending
1.4Minnesota Statutes 2010, sections 123B.53, subdivision 5; 126C.01, by adding
1.5subdivisions; 126C.17, subdivision 6.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2010, section 123B.53, subdivision 5, is amended to read:
1.8 Subd. 5. Equalized debt service levy. (a) The equalized debt service levy of a
1.9district equals the sum of the first tier equalized debt service levy and the second tier
1.10equalized debt service levy.
1.11(b) A district's first tier equalized debt service levy equals the district's first tier debt
1.12service equalization revenue times the lesser of one or the ratio of:
1.13(1) the quotient derived by dividing the adjusted net tax capacity of the district for
1.14the year before the year the levy is certified by the adjusted pupil units in the district for
1.15the school year ending in the year prior to the year the levy is certified; to
1.16(2)$3,200 ... percent of the statewide adjusted net tax capacity equalizing factor.
1.17(c) A district's second tier equalized debt service levy equals the district's second tier
1.18debt service equalization revenue times the lesser of one or the ratio of:
1.19(1) the quotient derived by dividing the adjusted net tax capacity of the district for
1.20the year before the year the levy is certified by the adjusted pupil units in the district for
1.21the school year ending in the year prior to the year the levy is certified; to
1.22(2)$8,000 ... percent of the statewide adjusted net tax capacity equalizing factor.
1.23EFFECTIVE DATE.This section is effective for revenue for fiscal year 2013
1.24and later.
2.1 Sec. 2. Minnesota Statutes 2010, section 126C.01, is amended by adding a subdivision
2.2to read:
2.3 Subd. 2a. Adjusted net tax capacity equalizing factor. The adjusted net tax
2.4capacity equalizing factor equals the quotient derived by dividing the total adjusted net
2.5tax capacity of all school districts in the state for the year before the year the levy is
2.6certified by the total number of adjusted marginal cost pupil units in the state for the
2.7current school year.
2.8EFFECTIVE DATE.This section is effective for taxes payable in 2012 and later.
2.9 Sec. 3. Minnesota Statutes 2010, section 126C.01, is amended by adding a subdivision
2.10to read:
2.11 Subd. 3a. Referendum market value equalizing factor. The referendum market
2.12value equalizing factor equals the quotient derived by dividing the total referendum market
2.13value of all school districts in the state for the year before the year the levy is certified by
2.14the total number of resident marginal cost pupil units in the state for the current school year.
2.15EFFECTIVE DATE.This section is effective for taxes payable in 2012 and later.
2.16 Sec. 4. Minnesota Statutes 2010, section 126C.17, subdivision 6, is amended to read:
2.17 Subd. 6. Referendum equalization levy. (a)For fiscal year 2003 and later,
2.18A district's referendum equalization levy equals the sum of the first tier referendum
2.19equalization levy and the second tier referendum equalization levy.
2.20(b) A district's first tier referendum equalization levy equals the district's first tier
2.21referendum equalization revenue times the lesser of one or the ratio of the district's
2.22referendum market value per resident marginal cost pupil unit to$476,000 ... percent of
2.23the statewide referendum market value equalizing factor.
2.24(c) A district's second tier referendum equalization levy equals the district's second
2.25tier referendum equalization revenue times the lesser of one or the ratio of the district's
2.26referendum market value per resident marginal cost pupil unit to$270,000 ... percent of
2.27the statewide referendum market value equalizing factor.
2.28EFFECTIVE DATE.This section is effective for revenue for fiscal year 2013
2.29and later.
1.3operating referendum and debt service equalization aid programs;amending
1.4Minnesota Statutes 2010, sections 123B.53, subdivision 5; 126C.01, by adding
1.5subdivisions; 126C.17, subdivision 6.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2010, section 123B.53, subdivision 5, is amended to read:
1.8 Subd. 5. Equalized debt service levy. (a) The equalized debt service levy of a
1.9district equals the sum of the first tier equalized debt service levy and the second tier
1.10equalized debt service levy.
1.11(b) A district's first tier equalized debt service levy equals the district's first tier debt
1.12service equalization revenue times the lesser of one or the ratio of:
1.13(1) the quotient derived by dividing the adjusted net tax capacity of the district for
1.14the year before the year the levy is certified by the adjusted pupil units in the district for
1.15the school year ending in the year prior to the year the levy is certified; to
1.16(2)
1.17(c) A district's second tier equalized debt service levy equals the district's second tier
1.18debt service equalization revenue times the lesser of one or the ratio of:
1.19(1) the quotient derived by dividing the adjusted net tax capacity of the district for
1.20the year before the year the levy is certified by the adjusted pupil units in the district for
1.21the school year ending in the year prior to the year the levy is certified; to
1.22(2)
1.23EFFECTIVE DATE.This section is effective for revenue for fiscal year 2013
1.24and later.
2.1 Sec. 2. Minnesota Statutes 2010, section 126C.01, is amended by adding a subdivision
2.2to read:
2.3 Subd. 2a. Adjusted net tax capacity equalizing factor. The adjusted net tax
2.4capacity equalizing factor equals the quotient derived by dividing the total adjusted net
2.5tax capacity of all school districts in the state for the year before the year the levy is
2.6certified by the total number of adjusted marginal cost pupil units in the state for the
2.7current school year.
2.8EFFECTIVE DATE.This section is effective for taxes payable in 2012 and later.
2.9 Sec. 3. Minnesota Statutes 2010, section 126C.01, is amended by adding a subdivision
2.10to read:
2.11 Subd. 3a. Referendum market value equalizing factor. The referendum market
2.12value equalizing factor equals the quotient derived by dividing the total referendum market
2.13value of all school districts in the state for the year before the year the levy is certified by
2.14the total number of resident marginal cost pupil units in the state for the current school year.
2.15EFFECTIVE DATE.This section is effective for taxes payable in 2012 and later.
2.16 Sec. 4. Minnesota Statutes 2010, section 126C.17, subdivision 6, is amended to read:
2.17 Subd. 6. Referendum equalization levy. (a)
2.18A district's referendum equalization levy equals the sum of the first tier referendum
2.19equalization levy and the second tier referendum equalization levy.
2.20(b) A district's first tier referendum equalization levy equals the district's first tier
2.21referendum equalization revenue times the lesser of one or the ratio of the district's
2.22referendum market value per resident marginal cost pupil unit to
2.23the statewide referendum market value equalizing factor.
2.24(c) A district's second tier referendum equalization levy equals the district's second
2.25tier referendum equalization revenue times the lesser of one or the ratio of the district's
2.26referendum market value per resident marginal cost pupil unit to
2.27the statewide referendum market value equalizing factor.
2.28EFFECTIVE DATE.This section is effective for revenue for fiscal year 2013
2.29and later.
