HF 1253

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to education; authorizing the establishment 
  1.3             of reserve accounts; amending Minnesota Statutes 2000, 
  1.4             section 123B.75, by adding a subdivision. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 2000, section 123B.75, is 
  1.7   amended by adding a subdivision to read: 
  1.8      Subd. 10.  [RESERVED REVENUE.] In addition to any other 
  1.9   reserve accounts authorized to be established pursuant to other 
  1.10  law, a school district may establish one or more reserve 
  1.11  accounts in the general fund which will contain revenue 
  1.12  appropriated to those accounts by the board.  Revenue contained 
  1.13  in a reserve account may only be used for the purposes specified 
  1.14  by the board and shall not be available for other purposes. 
  1.15     [EFFECTIVE DATE.] This section is effective July 1, 2001.