This bill amends Minnesota Statutes 2024, section 126C.17, subdivision 6, to increase the equalizing factors for the referendum levy. Specifically, it raises the first tier referendum equalization levy threshold from $567,000 to $1,500,000 and the second tier from $290,000 to $870,000. These changes aim to provide greater financial support to school districts by adjusting the equalization factors based on the district's referendum market value per resident pupil unit. The new provisions will take effect for revenue in fiscal year 2027 and later.

Additionally, the bill includes appropriations from the general fund to the Department of Education for general education aid for the fiscal years 2025, 2026, and 2027. The specific amounts for these appropriations are indicated but not detailed in the summary. This financial support is intended to enhance educational funding in line with the updated referendum equalization levy factors.

Statutes affected:
Introduction: 126C.17