MN SF2712

Changes first tier debt service equalization revenue calculation by reducing the levy rate from 15.74 percent to ten percent times adjusted net tax capacity.

Changes second tier equalized debt service levy calculation by replacing the $8,000 threshold with 100 percent of the statewide adjusted net tax capacity equalizing factor under section 123B.535.

Maintains the existing structure for calculating first and second tier debt service equalization aid as the difference between equalization revenue and equalized debt service levy.

All amendments are effective for revenue for fiscal year 2018 and later.