This bill amends Minnesota Statutes 2024, specifically section 126C.10, subdivision 2e, to increase local optional revenue for school districts. The first tier local optional revenue is redefined to be the first tier local optional allowance multiplied by the adjusted pupil units of the district, with the allowance set at $300 for fiscal years 2025 and 2026, and $550 for fiscal year 2027. The second tier local optional revenue is similarly adjusted, with the allowance set at $424 for fiscal years 2025 through 2027. The bill also establishes new equalizing factors for both tiers, which will be adjusted in subsequent fiscal years.

Additionally, the bill includes an appropriation from the general fund to the Department of Education for additional local optional aid, effective for revenue starting in fiscal year 2027 and later. The changes aim to provide more financial support to school districts, ensuring that local optional revenue is more closely aligned with the districts' needs and the general education funding formula.

Statutes affected:
Introduction: 126C.10