MN SF2520

Excludes obligations under section 123B.59 (alternative facilities) from eligible debt service revenue calculations effective for taxes payable in 2016 and later.

Reduces first tier debt service equalization levy rate from 15.74 percent to 10 percent of adjusted net tax capacity, and increases second tier rate from 26.24 percent to 30 percent.

Changes debt service equalization levy calculations to use third prior year adjusted pupil units and 125-300 percent of state average adjusted net tax capacity per pupil unit instead of fixed dollar amounts ($3,550 and $7,900).

Establishes alternative facilities equalization revenue and levy formulas using third prior year adjusted pupil units and 125 percent of state average adjusted net tax capacity per pupil unit.

Revises health and safety levy and deferred maintenance levy calculations to reference third prior year adjusted pupil units and 125 percent of state average adjusted net tax capacity per pupil unit instead of fixed dollar amounts ($3,165 and $5,965).