MN SF2542

Commissioner of Management and Budget shall reduce all general fund appropriations by one percent by July 15 of each fiscal year and cancel these appropriations to the general fund.

Appropriations to the Commissioner of Education and appropriations under section 16A.641 are exempt from the one percent reduction requirement.

If current year aid payment percentage is below 90 percent, the Commissioner of Management and Budget shall certify reduction amounts to the Commissioner of Education by July 31 of each fiscal year.

Commissioner of Education shall increase the aid payment percentage to not more than 90 percent (rounded to nearest tenth of a percent) using certified reduction amounts, with necessary funds appropriated from the general fund.

Amends Minnesota Statutes section 127A.45 to adjust the current year aid payment percentage to 64.3 percent in fiscal years 2012 and later, subject to adjustments under the new appropriation reduction provisions.