Minnesota HF921 clarifies aid and levy adjustments for school districts receiving excess tax increment finance over $25,000.

Minnesota HF921 amends the state's education finance law to clarify how aid and levy adjustments are made when a school district receives an excess tax increment finance over $25,000. The bill specifies that if a district returns excess tax increment, it must adjust its aid and levy limitations. The adjustments are based on the amount of excess increment received and the district's certified levy from the third preceding year. If the reductions cannot be made in the specified fiscal year, they must be made in subsequent years.

Minnesota HF921 clarifies aid and levy adjustments for school districts receiving excess tax increment finance over $25,000.

Minnesota HF921 amends the state's education finance law to clarify how aid and levy adjustments are made when a school district receives an excess tax increment finance over $25,000. The bill specifies that if a district returns excess tax increment, it must adjust its aid and levy limitations. The adjustments are based on the amount of excess increment received and the district's certified levy from the third preceding year. If the reductions cannot be made in the specified fiscal year, they must be made in subsequent years.