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S.F. No. 3270 - Enhanced Debt Service Equalization Aid
 
Author: Senator Jason Rarick
 
Prepared By: Bettsy J. Hjelseth, Senate Analyst (651/296-7983)
 
Date: March 16, 2020



 

Section 1. Enhanced Debt Service Equalization. Changes the name of natural disaster debt service equalization to enhanced debt service equalization. Clarifies that a district that has been negatively affected by a natural disaster qualifies for enhanced debt service equalization. Allows a district that consolidates on or after July 1, 2021 with an approved consolidation plat and plan that identifies construction projects that have received a positive review and comment to qualify for enhanced debt service equalization. Requires a newly consolidated district as of July 1 of the calendar year to notify the commissioner the amount of its intended enhanced debt service revenue by September 30 of the calendar year the levy is certified.

Effective Date. Makes the section effective July 1, 2020.

 
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