SB481:

School boards and local governing bodies; unexpended local funds, etc.

Bill Summary:

School boards and local governing bodies; unexpended local funds; school maintenance, renovation, and construction. Encourages each local governing body and local school board to enter into a collaborative agreement to set aside in a separate fund any sums, exclusive of the required local effort and required local match as stated in the general appropriation act, appropriated to the school board by the local governing body that are unexpended by the school board in any year in order to use such sums to finance school maintenance, renovation, or construction in the local school division. The bill provides that any such agreement may permit the local school board to retain and make authorized expenditures from such separate fund. As introduced, this bill is a recommendation of the Commission on School Construction and Modernization and incorporates SB 276.