Referendum levy equalizing factors increased, and money appropriated.

HF 1988 increases the property value thresholds used to calculate school district funding under Minnesota's education finance system. It raises the first-tier threshold from $567,000 to $1,500,000 and the second-tier threshold from $290,000 to $870,000 per student, meaning more school districts will receive full state equalization payments. The bill also appropriates funding for these changes, effective for fiscal year 2027 and later. This directly affects Minnesota public school districts that rely on local referendum levies to supplement state education aid. The policy change simplifies how districts qualify for state funding based on their local property wealth.