SB 839 Modifies adjustment to funds payable resulting from transfer of title to real property for certain school districts
Sponsor: Engler
LR Number: 3373S.01T Fiscal Note: 3373-01
Committee: Education
Last Action: 7/10/2008 - Signed by Governor Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2008
House Handler: Harris

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Current Bill Summary

SB 839 – Current law provides that certain payments made from any source by a school district that result in the transfer of the title of real property to the school district shall be deducted as an adjustment to the funds payable to the district under the school funding formula. This act provides that any school district that leased modular buildings in fiscal year 2004, with lease payments made from the incidental fund and that initiates the transfer of title to the district after fiscal year 2007, shall not have an adjustment of funds take place.