HF 789

as introduced - 91st Legislature (2019 - 2020) Posted on 02/07/2019 02:07pm

A bill for an act
relating to education finance; authorizing Independent School District No. 281,
Robbinsdale, to transfer money from its postemployment benefits irrevocable trust
fund to the general fund.

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

Section 1. new text begin FUND TRANSFER; INDEPENDENT SCHOOL DISTRICT NO. 281,
ROBBINSDALE.
new text end

new text begin (a) Notwithstanding Minnesota Statutes, sections 123B.79, 123B.80, or 471.6175,
subdivision 7, on June 30, 2019, Independent School District No. 281, Robbinsdale, may
permanently transfer an amount calculated under paragraph (b) from its postemployment
benefits irrevocable trust fund to its undesignated general fund.
new text end

new text begin (b) The amount transferred must not exceed the lesser of (1) $7,000,000, or (2) the sum
of the amounts expended from the district's general fund for postemployment benefits from
fiscal year 2009 to fiscal year 2017 for which the district did not make a corresponding
withdrawal from the district's postemployment benefits irrevocable trust fund.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end