ND HB1178

Amends North Dakota Century Code section 15.1-27-04.1 to modify how baseline funding is established and state aid is calculated for school districts, effective July 1, 2015.

Includes 75 percent of mineral revenue received by school districts through direct allocation from the state treasurer in the baseline funding calculation, rather than excluding it entirely.

Creates a special calculation subsection 5 for school districts with evidence of indebtedness for eligible school construction loans payable from oil and gas gross production tax distributions, allowing them to exclude up to 40 percent of mineral revenue from state aid reductions.

Limits the amount subtracted for mineral revenues used to pay school construction debt to no more than 50 percent of a school district's total revenue contribution to a qualifying project.

Declares the Act an emergency measure with an effective date of July 1, 2015.