1.2relating to education finance; allowing a school district to transfer up to $51 per
1.3adjusted marginal cost pupil unit from its reserve for operating capital account to
1.4the unrestricted general fund.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6    Section 1. CAPITAL ACCOUNT TRANSFERS.
1.7Notwithstanding any law to the contrary, on June 30, 2011, and June 30, 2012, a
1.8school district may transfer money from its reserved for operating capital account to its
1.9undesignated balance in the general fund. The amount transferred by any school district
1.10must not exceed $51 times the district's adjusted marginal cost pupil units for the second
1.11preceding fiscal year. This transfer may occur only after the school board has adopted a
1.12written resolution stating the amount of the transfer and declaring that the school district's
1.13operating capital needs are being met.