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HF 1703

as introduced - 88th Legislature (2013 - 2014) Posted on 04/04/2013 01:25pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to education finance; extending financial flexibility for school districts.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin FUND TRANSFER; FISCAL YEARS 2014 AND 2015 ONLY.
new text end

new text begin (a) Notwithstanding Minnesota Statutes, section 123B.80, subdivision 3, for fiscal
years 2014 and 2015 only, the commissioner must approve a request for a fund transfer
if the transfer does not increase state aid obligations to the district or result in additional
property tax authority for the district. This section does not permit transfers from the
community service fund or the food service fund.
 new text end

new text begin (b) A school board may approve a fund transfer under paragraph (a) only after
adopting a resolution stating the fund transfer will not diminish instructional opportunities
for students.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2013.
 new text end