MN HF4117

For fiscal year 2024, local optional revenue equals $300 per adjusted pupil unit (first tier) plus $424 per adjusted pupil unit (second tier); for fiscal year 2025, it consolidates to $920 per adjusted pupil unit.

Beginning fiscal year 2026, local optional revenue includes the $920 base amount adjusted for inflation, plus district unemployment insurance costs and paid family and medical leave expenses from the previous fiscal year.

Simplifies referendum revenue structure by consolidating first and second tier referendum equalization revenues into a single revenue calculation based on the district's referendum allowance times adjusted pupil units.

Adjusts referendum equalization levy market value thresholds across fiscal years, with specific dollar amounts set for fiscal years 2024-2027 and a placeholder for subsequent years.

Repeals separate unemployment aid and unequalized referendum levy statutes, consolidating these provisions into the modified local optional revenue framework effective fiscal year 2025 and later.