ND SB2169

Amends section 15.1-27-04.1 of the North Dakota Century Code to modify how baseline funding is established for school districts and state aid is determined.

Creates a new subsection 5 that provides special treatment 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 60 percent of mineral revenues from the state aid calculation.

Defines an "eligible school construction loan" as indebtedness incurred on or after January 1, 2010, that was either approved by 60 percent of qualified electors or involved a project exceeding $500,000 that received superintendent approval.

Becomes effective on July 1, 2015, and is declared an emergency measure.