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MN SF437
Bill
Status
1/21/2025
Primary Sponsor
Steve Green
Click for details
AI Summary
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Expands eligibility for enhanced debt service equalization aid beyond natural disaster-impacted districts to include school districts where at least 30% of property value is excluded from the district's taxable value
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Retains existing qualification pathway for districts impacted by presidentially-declared natural disasters occurring January 1, 2005 or later, with at least $500,000 in damages to school buildings not covered by insurance or FEMA
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Renames the program from "Natural Disaster Debt Service Equalization" to "Enhanced Debt Service Equalization" throughout Minnesota Statutes
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Effective for bond issues approved on or after July 1, 2025, with aid adjustment provisions effective for fiscal year 2026 and later
Legislative Description
Natural disaster debt service equalization aid program broadening to assist school district with a high percentage of property excluded from the tax rolls
Last Action
Referred to Education Finance
1/21/2025