MN SF2331

Adds "explosive growth revenue" as a new component of general education revenue for school districts beginning in fiscal year 2012.

Calculates explosive growth revenue as $500 multiplied by adjusted marginal cost pupil units for districts meeting four eligibility criteria.

Requires districts to have experienced at least a 4 percent increase in average daily membership between fiscal years 2001 and 2009.

Requires districts to have total average daily membership increase exceeding 2,900 between fiscal years 2001 and 2009, with at least 50 percent of local levy dedicated to debt service in the previous year.

Requires districts to maintain local tax rates equal to 40 percent or more of adjusted net tax capacity each year; effective July 1, 2011.