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MN SF1202
Bill
Status
2/10/2025
Primary Sponsor
Mary Kunesh-Podein
Click for details
AI Summary
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Amends Minnesota Statutes section 127A.49, subdivision 3 to update statutory references used in calculating school district aid adjustments when excess tax increment is returned or a tax increment district is decertified
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Changes the reference from "health and safety" aid (section 123B.57) to "long-term facilities maintenance" aid (section 123B.595) to reflect current program terminology
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Adds two new aid categories to the calculation formula: local optional aid (section 126C.10, subdivision 2e) and alternative teacher compensation equalization aid (section 122A.415)
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Applies only to excess tax increment amounts exceeding $25,000 per calendar year received by a school district
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Effective for fiscal year 2027 and later
Legislative Description
School district aid calculation clarification provision and levy limitations upon return of excess tax increment or decertification of a tax increment district
Last Action
Referred to Education Finance
2/10/2025