MN HF3906

Increases the first tier local optional levy threshold from $880,000 to $930,000 per resident pupil unit, effective for fiscal year 2024 and later.

Increases the second tier local optional levy threshold from $510,000 to $560,000 per resident pupil unit for fiscal year 2024 and later.

Removes language limiting local optional revenue provisions to fiscal years 2021 and later, allowing permanent application of these formulas.

Local optional revenue continues to equal $300 times adjusted pupil units for first tier and $424 times adjusted pupil units for second tier.

Changes are effective for revenue in fiscal year 2024 and later.