Chapter 126C — Maximum Effort School Aid Law

126C.001 Former section of Minnesota education revenue law, now repealed or renumbered. 126C.01 Definitions Defines key terms used in Minnesota school funding law, like pupil units and tax capacity. 126C.05 Definition of Pupil Units Defines how students are counted as pupil units for school funding purposes. 126C.052 Former education revenue provision, now repealed or renumbered. 126C.06 Former education revenue provision, now repealed. 126C.10 General Education Revenue Sets the formula for general education revenue that school districts receive each year. 126C.11 Former general education provision, now repealed. 126C.12 Learning and Development Revenue Amount and Use Sets aside part of general education revenue for learning and development programs. 126C.125 Former education revenue provision, now repealed. 126C.126 Use of General Education Revenue for All-day Kindergarten and Prekindergarten Allows school districts to use general education money for all-day kindergarten and pre-K programs. 126C.13 General Education Aid Describes how general education aid is calculated and paid to school districts. 126C.14 Former education aid provision, now repealed. 126C.15 Basic Skills Revenue; Compensatory Education Revenue Provides extra funding for compensatory education to help students with greater needs. 126C.16 Former education provision with subdivisions now repealed. 126C.17 Referendum Revenue Allows school districts to hold referendums to raise additional local funding. 126C.18 Former referendum provision, now repealed. 126C.19 Shared Time Aid Provides state aid for shared time programs where students split between public and private schools. 126C.20 Annual General Education Aid Appropriation Appropriates money from the state general fund for annual general education aid. 126C.21 Deductions From General Education Aid Lists situations where the state may deduct amounts from a district's general education aid. 126C.22 Former education provision, now repealed. 126C.23 Former education provision, now repealed. 126C.30 Former education provision, now repealed. 126C.31 Former education provision, now repealed. 126C.32 Former education provision, now repealed. 126C.33 Former education provision, now repealed. 126C.34 Former education provision, now repealed. 126C.35 Former education provision, now repealed. 126C.36 Former education provision, now repealed. 126C.40 Operational and Capital Levies Allows school districts to levy property taxes for leasing buildings and land for school use. 126C.41 Benefits Levies Authorizes school districts to levy property taxes for employee benefits costs. 126C.42 Former benefits levy provision with subdivisions now repealed. 126C.43 Levies; Statutory Obligations Allows school districts to levy taxes for certain legal obligations like dissolved district debts. 126C.44 Safe Schools Revenue Provides revenue for school safety programs and initiatives in school districts. 126C.445 Tree Growth Replacement Revenue Lets school districts levy to replace lost revenue from tree growth tax reductions. 126C.45 Ice Arena Levy Allows school districts that operate ice arenas to levy for the net cost of running them. 126C.455 Swimming Pool Levy Allows certain rural school districts to levy property taxes for swimming pool costs. 126C.457 Former school levy provision, now repealed. 126C.46 Abatement Levy Lets school districts levy to replace revenue lost from property tax abatements. 126C.47 Former levy provision, now repealed. 126C.48 Levy Procedure Sets the procedures and deadlines for school district property tax levies. 126C.50 Tax and Aid Anticipation Borrowing; Definitions Defines terms for school district borrowing through tax and aid anticipation certificates. 126C.51 Application of Limiting Tax Legislation States that general tax limits do not prevent school districts from borrowing as allowed here. 126C.52 Authority to Borrow Money; Limitations Authorizes school districts to borrow money through tax anticipation certificates. 126C.53 Enabling Resolution; Form of Certificates of Indebtedness Sets requirements for resolutions and certificate forms when school districts borrow. 126C.54 Repayment; Maturity Date of Certificates; Interest Requires tax and aid proceeds to be used to repay borrowed money and sets interest rules. 126C.55 State Payment of Debt Obligation Upon Potential Default; Repayment; State Obligation Not Debt Allows the state to pay a school district's debt if the district might default. 126C.56 Sale of Certificates; Disbursement of Proceeds Sets rules for how school districts sell borrowing certificates and use the money. 126C.60 Loans to Distressed Districts Directs financially distressed school districts to the Maximum Effort School Aid Law. 126C.61 Citation, Maximum Effort School Aid Law Names sections 126C.61 to 126C.72 as the Maximum Effort School Aid Law. 126C.62 Policy and Purpose Explains the policy behind state loans to school districts facing population and economic changes. 126C.63 Definitions Defines terms used in the Maximum Effort School Aid Law. 126C.64 Net Debt; Determination Explains how a school district's net debt is calculated for loan eligibility. 126C.65 Fund Established; Division Into Accounts Creates the maximum effort school loan fund for managing state loans to districts. 126C.66 Appropriation Appropriates money, including state bond proceeds, for school loans to qualifying districts. 126C.67 School Loans Describes how the commissioner reviews and decides on school loan applications. 126C.68 Former school loan provision with subdivisions now repealed. 126C.69 Capital Grants and Loans Provides capital grants and loans for building projects in qualifying school districts. 126C.70 Prepayments Allows school districts to prepay state loans early without penalty. 126C.71 Payment and Applications of Payment Sets the schedule and method for school districts to repay state loans. 126C.72 Issuance and Sale of Bonds Authorizes the state to issue and sell bonds to fund school loans.