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MN SF968
Bill
Status
Introduced
3/21/2011
Primary Sponsor
David Hann
Click for details
AI Summary
- Allows the referendum allowance limit to grow at the same percentage as the basic formula allowance beginning in fiscal year 2013
- Changes the referendum allowance cap from 26 percent of the formula allowance to 100 percent of the formula allowance for fiscal years 2013 and later
- Maintains existing calculation methods using the 1994 referendum allowance base multiplied by 1.177 and inflationary increases for fiscal years 2013 and beyond
- Applies provisions to fiscal years 2011 and 2012 under the previous 26 percent cap, then transitions to the new 100 percent cap structure in fiscal year 2013
- Effective for revenue in fiscal year 2013 and later
Legislative Description
School district referendum allowance limit modifications
Last Action
Referred to Education
3/21/2011
Committee Referrals
Education3/21/2011
Full Bill Text
No bill text available