The bill amends Minnesota Statutes 2022, section 127A.51, to modify the definition of adjusted general revenue in the context of education finance. It introduces new provisions that require the commissioner to compute the disparity in adjusted general revenue among pupils and districts by calculating the ratio of the 95th percentile to the fifth percentile of adjusted general revenue. Additionally, if the disparity increases in any year, the commissioner is tasked with recommending options to the legislature to limit this disparity to the previous school year's level, with a deadline for submission to the education committees by February 1.

Furthermore, the bill clarifies the components that constitute adjusted general revenue, which includes basic revenue, referendum revenue, local optional revenue, and equity revenue, while removing references to subdivisions 24a and 24b and replacing them with subdivision 24. The changes outlined in the bill will take effect on July 1, 2024.

Statutes affected:
Introduction: 127A.51