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S.F. No. 221 - Location Equity Revenue
 
Author: Senator Terri E. Bonoff
 
Prepared By: Bjorn E. Arneson, Senate Analyst (651/296-3812)
 
Date: March 6, 2013



 

Senate File 221 establishes a new location equity revenue program within general education revenue.  The location equity revenue program directs resources to some districts with a combination of above-state-average local and regional wages and above-state-median housing prices.  (The weighted composite calculation is described in detail on lines 1.9-1.24 of the bill as introduced.)

Location equity revenue is calculated per adjusted marginal cost pupil unit, is linked to the basic formula allowance, and consists entirely of state aid.

The bill is effective for revenue in fiscal year 2013 and later.

 
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