- House Committee Substitute -

HCS/SCS/SB/686 - This act allows school districts to transfer unrestricted funds from the capital projects fund to the incidental fund in any year in which that year's June 30 combined incidental and teachers funds' unrestricted balance compared to the combined incidental and teachers funds' expenditures would be less than10% without a transfer. The substitute also permits one-time transfers from the incidental to the capital projects funds for specific projects for two districts and provides a mechanism for transfer of moneys between funds for certain districts that have placed qualified zone academy bond proceeds in the capital project funds without setting a levy.

The act contains an emergency clause.

DONALD THALHUBER