MN SF4534

Moves local optional revenue into the basic formula allowance starting fiscal year 2024, eliminating it as a separate revenue category and repealing the local optional revenue statute.

Increases the formula allowance for fiscal year 2024 and later from $6,863 to $7,587 per adjusted pupil unit to offset the incorporation of local optional revenue into basic revenue.

Changes multiple statutory references from 0.0466 to 0.0406 in calculations for area learning centers, charter schools, and special education aid adjustments.

Freezes school district operating referendums in fiscal years 2024 and 2025, except for districts that had adopted referendum resolutions prior to June 30, 2022, or districts in statutory operating debt with approved plans.

Repeals referendum aid guarantee provisions (Minnesota Statutes 2020, section 126C.17, subdivision 7b) and the standalone local optional revenue statute (Minnesota Statutes 2021 Supplement, section 126C.10, subdivision 2e), with all changes effective for revenue fiscal year 2024 and later.