This bill aims to enhance education finance in Minnesota by establishing a new form of aid known as "seasonal tax base replacement aid" for eligible school districts. The bill amends Minnesota Statutes 2025 Supplement, section 126C.13, subdivision 4, by removing the reference to fiscal year 2015 and later, and it introduces new provisions that define the calculation of general education aid, including the addition of referendum aid under subdivision 7c. The new seasonal tax base replacement aid is designed for school districts with a seasonal tax base adjustment factor of at least 0.15, ensuring that these districts receive financial support based on their specific market values.

Additionally, the bill appropriates funds from the general fund to the Department of Education, specifying $0 for 2026 and $3,422,000 for 2027 to support this new aid program. The effective date for the new provisions regarding seasonal tax base replacement aid is set for taxes payable in 2026 and later, while the changes to general education aid will take effect for revenue in fiscal year 2027 and beyond. This legislation aims to provide targeted financial assistance to school districts that rely on seasonal property taxes, thereby promoting equitable funding across the state's educational institutions.

Statutes affected:
Introduction: 126C.17