1.1                          A bill for an act 
  1.2             relating to education; providing for historic building 
  1.3             revenue; appropriating money; proposing coding for new 
  1.4             law in Minnesota Statutes, chapter 123B. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [123B.641] [HISTORIC BUILDING REVENUE.] 
  1.7      Subdivision 1.  [ELIGIBILITY.] A district that maintains a 
  1.8   school building listed on the National Register of Historic 
  1.9   Places is eligible for historic building revenue. 
  1.10     Subd. 2.  [REVENUE.] A district's historic building revenue 
  1.11  is equal to $100 times the number of adjusted marginal cost 
  1.12  pupil units served in the school building. 
  1.13     Subd. 3.  [LEVY.] To obtain historic building revenue, a 
  1.14  district may levy an amount, not to exceed the district's 
  1.15  revenue, equal to the district's revenue authority for that year 
  1.16  times the lesser of one or the ratio of the adjusted net tax 
  1.17  capacity divided by its adjusted marginal cost pupil units for 
  1.18  that school year to the equalizing factor. 
  1.19     Subd. 4.  [AID.] A district's historic building aid is 
  1.20  equal to the difference between the district's revenue minus the 
  1.21  levy.  If a district does not levy the entire amount permitted, 
  1.22  the district's aid must be reduced in proportion to the amount 
  1.23  levied. 
  1.24     <b>[EFFECTIVE DATE.]</b> This section is effective for taxes 
  1.25  payable in fiscal year 2002 and later. 
  2.1      Sec. 2.  [APPROPRIATION.] 
  2.2      $....... is appropriated in fiscal year 2002 from the 
  2.3   general fund to the commissioner of children, families, and 
  2.4   learning for the purposes of section 1.