HF 4225

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to education; providing for capital account transfers.

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

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

new text begin Notwithstanding any law to the contrary, on June 30, 2008, a school district may
transfer money from its reserved for operating capital account to its undesignated balance
in the general fund. This transfer may occur only after the school board has adopted a
written resolution stating the amount of the transfer and declaring that the school district's
operating capital needs are being met.
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