MN HF3214

Amends Minnesota Statutes 2008, section 126C.17, subdivisions 5, 6, and 7 to modify referendum equalization for school districts.

For fiscal years 2003-2011, referendum equalization revenue equals the sum of first and second tier amounts; beginning fiscal year 2012, it equals the referendum equalization allowance times the district's resident marginal cost pupil units.

Establishes first tier referendum equalization allowance as the lesser of the district's referendum allowance under subdivision 1 or $700 for fiscal years 2008-2011, and eliminates second tier for fiscal year 2012 and later.

Changes referendum equalization levy calculations: first tier uses $476,000 market value threshold through 2011, then $1,000,000 threshold for 2012 and later; second tier uses $270,000 threshold through 2011.

All modified provisions are effective for revenue beginning fiscal year 2012 and later.