MN HF3155

Amends Minnesota Statutes 2008, section 126C.17, subdivision 2 to modify school district referendum allowance limits for fiscal year 2007 and later.

Establishes referendum allowance as the greater of: (1) a district's fiscal year 1994 allowance times 1.177 plus annual inflationary increase minus $215, (2) 26 percent of formula allowance or $1,294 times annual inflationary increase, or (3) for newly reorganized districts created after July 1, 2006, referendum revenue authority divided by resident marginal cost pupil units.

Defines "inflationary increase" for fiscal year 2005 and later as one plus the percentage change in the Consumer Price Index for urban consumers from the current fiscal year to fiscal year 2004.

For fiscal years 2009 through 2010, sets inflationary increase equal to fiscal year 2008 inflationary increase plus one-fourth of the percentage increase in formula allowance compared to fiscal year 2008.

For fiscal year 2011 and later, sets inflationary increase equal to fiscal year 2011 inflationary increase plus the percentage increase in formula allowance compared to fiscal year 2011.