1.1                          A bill for an act 
  1.2             relating to education; providing for revenue for 
  1.3             extracurricular activities; 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.492] [ACTIVITY REVENUE.] 
  1.7      Subdivision 1.  [REVENUE.] A school district is eligible 
  1.8   for activities revenue equal to the amount necessary to pay the 
  1.9   costs of student participation in extracurricular activities 
  1.10  under section 123B.49, subdivision 4. 
  1.11     Subd. 2.  [LEVY.] A district's activity levy equals the 
  1.12  district's activity revenue times the lesser of one or the ratio 
  1.13  of the district's adjusted net tax capacity per adjusted 
  1.14  marginal cost pupil unit to $10,000. 
  1.15     Subd. 3.  [AID.] A district's activity aid equals the 
  1.16  difference between its activity revenue and levy. 
  1.17     <b>[EFFECTIVE DATE.]</b> This section is effective for taxes 
  1.18  payable in 2002 and later.