1.1                          A bill for an act 
  1.2             relating to education; modifying the equalized debt 
  1.3             service levy and appropriation; amending Minnesota 
  1.4             Statutes 1995 Supplement, sections 124.95, subdivision 
  1.5             4; and 124.961. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1995 Supplement, section 
  1.8   124.95, subdivision 4, is amended to read: 
  1.9      Subd. 4.  [EQUALIZED DEBT SERVICE LEVY.] To obtain debt 
  1.10  service equalization revenue, a district must levy an amount not 
  1.11  to exceed the district's debt service equalization revenue times 
  1.12  the lesser of one or the ratio of: 
  1.13     (1) the quotient derived by dividing the adjusted net tax 
  1.14  capacity of the district for the year before the year the levy 
  1.15  is certified by the actual pupil units in the district for the 
  1.16  school year ending in the year prior to the year the levy is 
  1.17  certified; to 
  1.18     (2) ~~$4,707.50~~ 100 percent of the equalizing factor as 
  1.19  defined in section 124A.02, subdivision 8, for the year to which 
  1.20  the levy is attributable. 
  1.21     Sec. 2.  Minnesota Statutes 1995 Supplement, section 
  1.22  124.961, is amended to read: 
  1.23     124.961 [DEBT SERVICE APPROPRIATION.] 
  1.24     (a) $30,054,000 in fiscal year 
  1.25  1996, ~~$27,370,000~~ $44,730,000 in fiscal year 1997, 
  2.1   and ~~$32,200,000~~ $52,200,000 in fiscal year 1998 and each year 
  2.2   thereafter is appropriated from the general fund to the 
  2.3   commissioner of children, families, and learning for payment of 
  2.4   debt service equalization aid under section 124.95.  The 1998 
  2.5   appropriation includes ~~$4,830,000~~ $7,830,000 for 1997 and 
  2.6   ~~$27,370,000~~ $44,370,000 for 1998. 
  2.7      (b) The appropriations in paragraph (a) must be reduced by 
  2.8   the amount of any money specifically appropriated for the same 
  2.9   purpose in any year from any state fund.