MN SF2747

Modifies the location equity revenue formula to provide $424 per adjusted pupil unit for school districts either within the seven-county metropolitan area or with more than 7,000 pupils in adjusted average daily membership.

Reduces the location equity revenue to $212 per adjusted pupil unit for all other school districts, removing the previous threshold of more than 2,000 pupils in adjusted average daily membership.

Maintains the existing mechanism where a district's location equity levy is calculated as its revenue times the lesser of one or the ratio of its referendum market value per resident pupil unit to $510,000.

Allows school districts to elect non-participation in the location equity revenue program by board vote prior to September 1 of the fiscal year before the decision becomes effective.

Effective for revenue in fiscal year 2016 and later.