MN HF3703

Amends Minnesota Statutes section 123B.53, subdivision 5, to modify how school districts calculate equalized debt service levies for fiscal years 2018 and later.

Changes first tier equalized debt service levy calculation from a fixed $4,430 threshold to 54.55 percent of the initial equalizing factor beginning in fiscal year 2018.

Changes second tier equalized debt service levy calculation from a fixed $8,000 threshold to 98.51 percent of the initial equalizing factor beginning in fiscal year 2018.

Defines the initial equalizing factor as the quotient of total adjusted net tax capacity of all state school districts divided by total adjusted pupil units in all state school districts.

Effective for taxes payable in 2017 and later.