MN SF2340

First tier local optional revenue increases from $300 to $400 per adjusted pupil unit beginning in fiscal year 2027, while second tier local optional revenue remains at $424 per adjusted pupil unit

School districts' referendum allowances are reduced by $100 per pupil for fiscal year 2027 and later, calculated by subtracting $100 from the district's fiscal year 2026 allowance (with a floor of zero)

Second tier local optional levy thresholds are updated, with the referendum market value per resident pupil unit ratio set at $671,345 for fiscal year 2027 and later

Appropriates funds from the general fund to the Department of Education for general education aid for fiscal years 2026 and 2027 (specific dollar amounts not yet determined in the bill)

Effective date for referendum allowance changes is fiscal year 2027 and later