MN SF3449

Increases the general education basic formula allowance for fiscal year 2025 from $7,281 to $7,427 per adjusted pupil unit.

Sets the formula allowance for fiscal year 2024 at $7,138 and establishes a minimum 2 percent annual increase for fiscal year 2026 and beyond, with increases capped at inflation rate plus 3 percent.

Requires the Commissioner of Education to calculate and publish the formula allowance by the end of February each year based on the Consumer Price Index for all urban consumers.

Appropriates $8,093,493,000 for general education aid in 2024 and adjusts the 2025 appropriation, with specific allocations for prior and current fiscal years.

Establishes legislative policy to fund public schools consistent with constitutional obligations and authorizes additional future increases to the general education basic formula allowance.