Bill > SF2244

This bill modifies the referendum equalization levy provisions for school districts in Minnesota by increasing the market value thresholds used to calculate levy rates. Specifically, the bill raises the first tier referendum market value per resident pupil unit threshold from $567,000 to $1,500,000, and the second tier threshold from $290,000 to $870,000. These changes are designed to provide more equitable funding support for school districts with varying property values. The referendum equalization levy is a mechanism that helps balance educational funding across districts by adjusting levy rates based on local property wealth. The bill includes an effective date of fiscal year 2027, giving districts and the state time to prepare for the new calculation method. Additionally, the bill includes a section for appropriations to the Department of Education for general education aid, though the specific dollar amounts are not specified in the provided text. By increasing these market value thresholds, the bill aims to provide more consistent and fair educational funding across different school districts in Minnesota.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2244&ssn=0&y=2025