HF 3569

as introduced - 86th Legislature (2009 - 2010) Posted on 03/09/2010 10:43am

A bill for an act
relating to education finance; authorizing school districts to transfer money
among funds and accounts.

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

Section 1. new text begin FUND AND ACCOUNT TRANSFERS.
new text end

new text begin (a) Notwithstanding any law to the contrary, on June 30, 2011, a school district
may permanently transfer funds from any account or fund to any other account or fund
provided the account transfer does not either increase a state aid obligation or grant the
district additional levy authority. This section does not permit transfers within or from
the debt redemption fund.
new text end

new text begin (b) A school board may make a fund or account transfer under this section only
after a public meeting on the transfers has been held and the school board has adopted a
written resolution authorizing the transfers.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2010.
new text end