MN SF1206

Reduces the first tier debt service equalization levy from 15.74 percent to 11 percent of adjusted net tax capacity, effective for fiscal year 2019 and later.

Modifies the equalizing factor calculation for first and second tier debt service levies to use 100 percent of the initial equalizing factor in fiscal year 2019 and later, replacing previous dollar thresholds.

Increases the second tier referendum equalization allowance from $760 to $1,000 per adjusted pupil unit.

Raises the referendum market value per resident pupil unit thresholds for second tier levy calculations from $510,000 to $640,000 and for third tier from $290,000 to $400,000.

All amendments are effective for revenue for fiscal year 2019 and later.