MN SF62

Increases basic revenue formula allowance to $6,067 for fiscal year 2017, $6,219 for 2018, and $6,375 for 2019, with subsequent years indexed to Consumer Price Index inflation beginning in fiscal year 2020.

Modifies special education aid calculation by increasing excess cost aid reimbursement rates from 56 percent to 75 percent for nonfederal expenditures and from 62 percent to 75 percent for old formula expenditures, effective fiscal year 2018.

Establishes procedures to track and exclude third-party billing revenues from special education aid calculations while including them in annual cross-subsidy reports.

Allows school boards to renew expiring referendums by board action without voter election if the per-pupil amount remains unchanged, the term does not exceed the original approved term, and the board adopts a written resolution after public testimony, effective July 1, 2017.

Appropriates unspecified amounts from the general fund to the Department of Education for general education aid and special education aid for fiscal years 2018 and 2019.