MN SF504

Adds "minimum revenue guarantee" as a new component of general education revenue for Minnesota school districts effective fiscal year 2024 and later.

Defines general education component revenue to include extended time revenue, gifted and talented revenue, declining enrollment revenue, local optional revenue, small schools revenue, basic skills revenue, sparsity revenue, operating capital revenue, equity revenue, pension adjustment revenue, transition revenue, and operating referendum revenue.

Calculates a district's minimum revenue guarantee by multiplying adjusted pupil units by the greater of zero or the difference between $1,850 and the ratio of the district's general education component revenue divided by adjusted pupil units.

Caps the minimum revenue guarantee at $100 times the district's adjusted pupil units for that year.