MN SF4222

Increases the general education basic formula allowance from $6,863 to $7,206 for fiscal year 2023 and later, representing a five percent increase.

Appropriates funding from the general fund to the Department of Education in fiscal year 2023 to cover the additional general education aid costs.

Amends Minnesota Statutes 2021 Supplement, section 126C.10, subdivision 2, which governs the calculation of basic revenue for school districts based on formula allowance and adjusted pupil units.

Maintains existing formula allowances of $6,567 for fiscal year 2021 and $6,728 for fiscal year 2022 before implementing the increased allowance.