SF1197

Senate File No. 1197 is a proposed law that relates to the financing of schools in Minnesota. It aims to modify existing statutes to introduce a new form of financial aid for school districts, known as "seasonal tax base replacement aid." This measure has been introduced to help districts financially by altering how general education aid is calculated and distributed. Important components such as operating capital revenue, equity revenue, local optional revenue, and transition revenue are listed in terms of how they contribute to the total general education aid a district receives. Other forms of aid mentioned include operating capital aid, equity aid, transition aid, shared time aid, referendum aid, and online learning aid. Additionally, the proposal describes the specifics of local optional aid and modifies how these aids are computed and allocated to better support school districts. This legislation has been referred to the Education Finance committee for further deliberation and action.