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MN SF475
Bill
Status
Introduced
2/28/2011
Primary Sponsor
Dave Brown
Click for details
AI Summary
- Establishes new "growth revenue" as a component of general education revenue for school districts beginning fiscal year 2013
- Growth revenue equals $500 multiplied by adjusted marginal cost pupil units for districts meeting eligibility criteria
- Requires districts to have at least 50 percent of local levy dedicated to debt service in the previous year to qualify
- Requires districts to be locally taxing at a rate equal to 50 percent or more of adjusted net tax capacity annually to qualify
- Effective date is July 1, 2012
Legislative Description
School district growth revenue provision
Last Action
Referred to Education
2/28/2011
Committee Referrals
Education2/28/2011
Full Bill Text
No bill text available