1.1 	A bill for an act
1.2 	relating to education finance; increasing the basic formula allowance by two percent 
1.3 	per year; appropriating money;amending Minnesota Statutes 2016, section 
1.4 	126C.10, subdivision 2.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2016, section 126C.10, subdivision 2, is amended to read:
1.7 		Subd. 2.Basic revenue.  The basic revenue for each district equals the formula allowance 
1.8 	times the adjusted pupil units for the school year. The formula allowance for fiscal year 
1.9 	2015 is $5,831. The formula allowance for fiscal year 2016 is $5,948. The formula allowance 
1.10 	for fiscal year 2017 and later is $6,067. The formula allowance for fiscal year 2018 is $6,188. 
1.11 	The formula allowance for fiscal year 2019 and later is $6,312.