1.1 	A bill for an act
1.2 	relating to education finance; authorizing school districts to transfer money 
1.3 	among funds and accounts.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. FUND AND ACCOUNT TRANSFERS.
 1.6 	(a) Notwithstanding any law to the contrary, on June 30, 2011, a school district 
1.7 	may permanently transfer funds from any account or fund to any other account or fund 
1.8 	provided the account transfer does not either increase a state aid obligation or grant the 
1.9 	district additional levy authority. This section does not permit transfers within or from 
1.10 	the debt redemption fund.
1.11 	(b) A school board may make a fund or account transfer under this section only 
1.12 	after a public meeting on the transfers has been held and the school board has adopted a 
1.13 	written resolution authorizing the transfers.

1.14 	EFFECTIVE DATE. This section is effective July 1, 2010.