MN SF2231

Modifies the calculation of transition allowance for school districts beginning in fiscal year 2018 to equal the transition revenue allowance for fiscal year 2017 instead of the previously referenced fiscal year 2015 calculation under 2012 statutes.

Simplifies transition revenue computation by multiplying the district's transition allowance by adjusted pupil units for fiscal year 2015 and later.

Updates transition levy provisions to reference transition revenue for the applicable fiscal year, capped at the product of transition revenue times the lesser of one or the ratio of referendum market value per resident pupil unit to $510,000.

Clarifies transition aid calculation for fiscal year 2005 and later as transition revenue minus transition levy multiplied by the ratio of actual amount levied to permitted levy.

Amends Minnesota Statutes 2016, section 126C.10, subdivisions 31, 32, and 33 regarding education finance.