Minnesota SF437 expands the natural disaster debt service equalization aid program to help school districts with a high percentage of property.
Minnesota SF437 amends the natural disaster debt service equalization aid program to assist school districts with at least 30% of their property value excluded from the taxable value. The bill defines eligible natural disaster enhanced debt service revenue and establishes criteria for districts to qualify for enhanced aid. It also outlines the calculation for the equalized natural disaster enhanced debt service levy and the payment schedule for debt service equalization aid. The changes are effective for fiscal year 2026 and later.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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