HB 37 -- School Fund Transfers

Sponsor:  Marble

Under this bill, school districts that have reached 90% of their
bonding capacity may make an 18-cent transfer of funds from the
incidental to the capital projects fund for 3 consecutive years
for the purpose of construction and renovation of buildings.
The bill removes a condition on debt limitations for certain
transfers and eliminates the 20-year limit for lease-purchase
obligations, as well as the limit on the amount of the annual
payment and the restrictions on purpose of the leased property.
The bill also makes some technical changes to the calculation
and requirements for transfer of district moneys from fund to
fund.