MN SF2576

Amends Minnesota Statutes to increase equalization levels for school district debt service levies beginning with levies payable in 2019 and later, with calculations based on the initial equalizing factor for fiscal years 2018 and beyond.

Modifies the first tier equalized debt service levy calculation to use 55.33 percent of the initial equalizing factor in fiscal years 2018 and 2019, with a placeholder percentage for fiscal year 2020 and later.

Increases the second tier equalized debt service levy threshold from $8,000 to 100 percent of the initial equalizing factor in fiscal years 2018 and 2019, with a placeholder percentage for fiscal year 2020 and later.

Updates local optional levy calculations with a placeholder dollar amount to replace the current $510,000 per resident pupil unit threshold, effective for levies payable in 2019 and later.

Adjusts referendum equalization levy thresholds with placeholder dollar amounts replacing $880,000, $510,000, and $290,000 per resident pupil unit limits across three tiers, effective for levies payable in 2019 and later.