1.1 	A bill for an act
1.2 	relating to education finance; reserving future increases in school endowment 
1.3 	fund apportionments for early learning programs;amending Minnesota Statutes 
1.4 	2014, section 127A.33.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2014, section 127A.33, is amended to read:
1.7 	127A.33 SCHOOL ENDOWMENT FUND; APPORTIONMENT.
1.8 	(a) The commissioner shall apportion the school endowment fund semiannually on 
1.9 	the first Monday in March and September in each year, to districts whose schools have 
1.10 	been in session at least nine months. The apportionment shall be in proportion to each 
1.11 	district's adjusted average daily membership during the preceding year. The apportionment 
1.12 	shall not be paid to a district for pupils for whom tuition is received by the district.
1.13 	(b) For a school district, not including a charter school, for fiscal year 2016 and later, 
1.14 	an amount equal to the greater of (1) zero, or (2) the total fiscal year apportionment per 
1.15 	prior year pupil in adjusted average daily membership minus $28.83 shall be reserved for 
1.16 	school readiness programs under section 124D.15.

1.17 	EFFECTIVE DATE. This section is effective July 1, 2015.