Bill > SF2340

This bill modifies education finance provisions related to local optional revenue and referendum allowances for school districts in Minnesota. For fiscal years 2025 and 2026, the first tier local optional revenue will remain at $300 per adjusted pupil unit, but it will increase to $400 per adjusted pupil unit in fiscal year 2027 and later. The bill adjusts the calculation of second tier local optional levies by changing the referendum market value thresholds for different fiscal years, with the threshold reaching $671,345 in fiscal year 2027 and beyond. Additionally, the bill reduces the referendum allowance by subtracting $100 from the district's allowance for fiscal year 2026, with provisions to set the allowance to zero if the result is negative. The bill also includes a placeholder for appropriations to the Department of Education for general education aid, though the specific dollar amounts are not filled in. These changes aim to modify how school districts can generate local revenue and calculate their funding allowances, potentially impacting school district budgets and financial planning.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2340&ssn=0&y=2025