The bill aims to enhance career and technical education funding for school districts in Minnesota by amending existing statutes related to career and technical revenue. Key changes include increasing the career and technical revenue from $35 to $50 per pupil for eligible districts, and establishing a new tax rate that will raise $46,461,000 annually for career and technical program revenue starting in fiscal year 2026. Additionally, the bill introduces a revenue guarantee ensuring that districts receive at least the lesser of their previous year's career and technical education revenue or 100% of their approved expenditures for the current fiscal year.

The bill also includes provisions for reporting requirements, mandating districts to report their career and technical reserve account balances and hold public discussions if their balances exceed $200 per pupil unit. Furthermore, it repeals a previous subdivision that allowed for revenue adjustments based on statewide targets for certain fiscal years. The effective date for these changes is set for revenue starting in fiscal year 2026 and later.

Statutes affected:
Introduction: 124D.4531