1.1 	A bill for an act
1.2 	relating to education finance; increasing the general education basic formula 
1.3 	allowance;amending Minnesota Statutes 2010, section 126C.10, subdivision 2.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2010, section 126C.10, subdivision 2, is amended to read:
1.6 		Subd. 2.Basic revenue. The basic revenue for each district equals the formula 
1.7 	allowance times the adjusted marginal cost pupil units for the school year. The formula 
1.8 	allowance for fiscal year 2007 is $4,974. The formula allowance for fiscal year 2008 is 
1.9 	$5,074 and the formula allowance for fiscal year years 2009, 2010, and 2011, is $5,124. 
1.10 	The formula allowance for fiscal years 2012 and subsequent years is $5,124 $5,324.

1.11 	EFFECTIVE DATE. This section is effective for revenue for fiscal years 2012 
1.12 	and later.