MN SF2822

Expands school district eligibility for location equity revenue to include districts with area in the Minneapolis-St. Paul-Bloomington, MN-WI Metropolitan Statistical Area as defined by the federal Office of Management and Budget, in addition to the existing seven-county metropolitan area requirement.

Sets location equity revenue at $424 per adjusted pupil unit for eligible districts in the expanded metropolitan areas and $212 per adjusted pupil unit for all other districts with more than 2,000 pupils in adjusted average daily membership.

Calculates a district's location equity levy by multiplying location equity revenue by the lesser of one or the ratio of its referendum market value per resident pupil unit to $510,000, spread on referendum market value.

Allows school districts to elect not to participate in the location equity revenue program by board vote prior to September 1 of the fiscal year before the decision takes effect.

Takes effect for revenue for fiscal year 2015 and later.