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MN HF3602
Bill
Status
Introduced
3/24/2016
Primary Sponsor
Mary Murphy
Click for details
AI Summary
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Amends Minnesota Statutes section 477A.013, subdivision 8, to establish a base year formula aid calculation for newly incorporated cities.
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For newly incorporated cities in their first aid payable year, the "formula aid in the previous year" is deemed equal to $10 multiplied by the city's population, rather than using actual prior year data.
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Maintains existing city formula aid calculation based on previous year aid plus the product of unmet need difference and aid gap percentage.
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Effective for aids payable in 2017 and thereafter.
Legislative Description
Newly incorporated city base year formula aid provided.
Last Action
Referred by Chair to Property Tax and Local Government Finance Division
3/24/2016
Committee Referrals
Taxes3/24/2016
Full Bill Text
No bill text available