MN SF2946

School boards may hold a formal hearing to declare an urgent educational need and reallocate general education revenue to improve education programs and student outcomes.

Reallocation actions cannot increase state aid obligations, result in additional property tax authority, or interfere with federal laws or court orders.

For fiscal years 2013 and 2014, general education revenue includes basic revenue, extended time revenue, gifted and talented revenue, small schools revenue, basic skills revenue, sparsity revenue, operating capital revenue, equity revenue, alternative teacher compensation revenue, and transition revenue.

For fiscal year 2015 and later, general education revenue replaces alternative teacher compensation revenue with declining enrollment revenue and location equity revenue, and adds pension adjustment revenue.

Amendment effective for fiscal year 2015 and later.