MN SF977

Adds savings aid to the general education revenue formula for charter schools, calculated as one-half of lease cost reductions negotiated by charter schools.

Establishes savings aid eligibility for charter schools currently receiving building lease aid that negotiate lower lease costs, with savings calculated as one-half the per-pupil difference.

Creates savings aid for new charter schools without prior lease aid based on one-half the difference between $1,200 and their initial lease aid per pupil unit.

Amends Minnesota Statutes section 124D.11 to restructure building lease aid and create the new savings aid component as part of charter school funding formulas.

Effective for revenue calculations beginning in fiscal year 2012.