new text begin Subd. 7c. new text end

new text begin Seasonal tax base replacement aid. new text end

new text begin (a) A district's seasonal tax base
replacement aid equals the product of (1) one minus the seasonal tax base adjustment factor,
and (2) the district's referendum equalization levy calculated under subdivision 6.
new text end

new text begin (b) A district's seasonal tax base adjustment factor equals the ratio of (1) the referendum
market value for the district, to (2) the sum of the referendum market value and the seasonal
market value for the district. The seasonal tax base adjustment factor may not be greater
than one or less than 0.5. For the purposes of this paragraph, "seasonal market value" means
the market value of all taxable property classified as class 4c(12) under section 273.13.
new text end

new text begin (c) The amount calculated under paragraph (a) must be used to reduce the district's
referendum levy determined after the adjustments under subdivisions 7a and 7b, except that
the district's referendum levy must not be less than zero after the subtraction under this
subdivision.
new text end