Minnesota Legislature
SF 506
as introduced - 91st Legislature (2019 - 2020) Posted on 01/28/2019 02:20pm
Current Version - as introduced
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A bill for an act
relating to education finance; authorizing school districts to use long-term facilities
maintenance revenue for school facility demolition and debris removal; amending
Minnesota Statutes 2018, section 123B.595, subdivision 10.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2018, section 123B.595, subdivision 10, is amended to read:
Subd. 10.
Allowed uses for long-term facilities maintenance revenue.
(a) A district
may use revenue under this section for any of the following:
(1) deferred capital expenditures and maintenance projects necessary to prevent further
erosion of facilities;
(2) increasing accessibility of school facilities;
(3) health and safety capital projects under section 123B.57; deleted text begin or
deleted text end
(4) by board resolution, to transfer money from the general fund reserve for long-term
facilities maintenance to the debt redemption fund to pay the amounts needed to meet, when
due, principal and interest on general obligation bonds issued under subdivision 5new text begin ; or
new text end
new text begin (5) demolition of all or portions of school facilities and removal of debrisnew text end .
(b) A charter school may use revenue under this section for any purpose related to the
school.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective July 1, 2019.
new text end