This bill amends Minnesota Statutes 2024, specifically section 126C.10, subdivision 2e, to increase local optional revenue for school districts that have limited referendum revenue authority. The amendments introduce a third tier of local optional revenue, which is calculated based on the district's adjusted pupil units and the difference between $100 and the district's operating referendum revenue per adjusted pupil unit. Additionally, the bill modifies the calculation for the second tier of local optional revenue and establishes new ratios for determining the local optional levy based on the district's referendum market value per resident pupil unit for fiscal years 2024 through 2027.

Furthermore, the bill includes an appropriation from the general fund to the Department of Education for additional general education aid necessary to support the increased local optional revenue. The effective date for these changes is set for revenue for fiscal year 2027 and later. The bill aims to provide more financial resources to school districts, thereby enhancing their ability to meet educational needs.

Statutes affected:
Introduction: 126C.10