MN HF2714

Increases the second tier referendum equalization allowance cap from $760 to $1,000 for school districts calculating equalization revenue.

Increases the second tier referendum equalization levy market value threshold from $510,000 to $650,000 per resident pupil unit.

Adds a third tier of referendum equalization revenue and levy calculations, with allowances equal to 25 percent of the formula allowance minus first and second tier allowances.

Provides an exception for districts qualifying for secondary or elementary sparsity revenue, allowing their third tier allowance to equal the full referendum allowance minus first and second tier allowances.

Changes are effective for taxes payable in 2017 and later.