1.1 	A bill for an act
1.2 	relating to education finance; transferring the funding for the alternative 
1.3 	compensation program to the basic general education formula allowance 
1.4 	beginning in fiscal year 2016; repealing the alternative compensation program;
1.5 	amending Minnesota Statutes 2013 Supplement, section 126C.10, subdivision 2; 
1.6 	repealing Minnesota Statutes 2013 Supplement, section 122A.415, subdivisions 
1.7 	4, 5, 6.
1.8 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.9 	Section 1. Minnesota Statutes 2013 Supplement, section 126C.10, subdivision 2, is 
1.10 	amended to read:
1.11 		Subd. 2.Basic revenue. For fiscal year 2014, the basic revenue for each district 
1.12 	equals the formula allowance times the adjusted marginal cost pupil units for the school 
1.13 	year. For fiscal year 2015 and later, the basic revenue for each district equals the formula 
1.14 	allowance times the adjusted pupil units for the school year. The formula allowance for 
1.15 	fiscal year 2013 is $5,224. The formula allowance for fiscal year 2014 is $5,302. The 
1.16 	formula allowance for fiscal year 2015 is $5,806. The formula allowance for fiscal year 
1.17 	2016 and later is $5,806 $5,906.

1.18 	EFFECTIVE DATE. This section is effective for revenue for fiscal year 2016 
1.19 	and later.

1.20 	Sec. 2.  REPEALER.
 1.21 	Minnesota Statutes 2013 Supplement, section 122A.415, subdivisions 4, 5, and 
1.22 	6  are repealed.

2.1 	EFFECTIVE DATE. This section is effective for revenue for fiscal year 2016 
2.2 	and later.