1.1                          A bill for an act 
  1.2             relating to education finance; increasing the general 
  1.3             education basic formula allowance; amending Minnesota 
  1.4             Statutes 2000, section 126C.10, subdivision 2. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 2000, section 126C.10, 
  1.7   subdivision 2, is amended to read: 
  1.8      Subd. 2.  [BASIC REVENUE.] The basic revenue for each 
  1.9   district equals the formula allowance times the adjusted 
  1.10  marginal cost pupil units for the school year.  ~~The formula~~ 
  1.11  ~~allowance for fiscal year 1998 is $3,581.  The formula allowance~~ 
  1.12  ~~for fiscal year 1999 is $3,530.  The formula allowance for~~ 
  1.13  ~~fiscal year 2000 is $3,740.~~  The formula allowance for fiscal 
  1.14  year 2001 ~~and subsequent fiscal years~~ is $3,964.  The formula 
  1.15  allowance for fiscal year 2002 and subsequent fiscal years is 
  1.16  $4,264.