Bill Text: NH SB373 | 2012 | Regular Session | Introduced

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Bill Title: Authorizing the retention of funds by a school district and relative to regional vocational education centers in the Manchester school district.

Spectrum: Partisan Bill (Republican 9-0)

Status: (Passed) 2012-06-13 - Senate Signed by the Governor on 06/13/12; Chapter 0221 [SB373 Detail]

Download: New_Hampshire-2012-SB373-Introduced.html

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SB 373-LOCAL – AS INTRODUCED

2012 SESSION

12-2996

04/10

SENATE BILL 373-LOCAL

AN ACT authorizing the retention of funds by a school district.

SPONSORS: Sen. Forsythe, Dist 4; Sen. Carson, Dist 14; Sen. Gallus, Dist 1; Sen. Lambert, Dist 13; Sen. Luther, Dist 12; Sen. Odell, Dist 8; Sen. Stiles, Dist 24; Rep. L. Ober, Hills 27; Rep. Malone, Belk 5

COMMITTEE: Education

ANALYSIS

This bill authorizes a school district to retain funds for emergency expenditures or to reduce the tax rate.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

12-2996

04/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twelve

AN ACT authorizing the retention of funds by a school district.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 School Money; Contingency Fund. Amend RSA 198:4-b to read as follows:

198:4-b Contingency Fund.

I. [Every] A school district annually by an article in the warrant, [and] or the governing body of a city upon recommendation of the school board, when the operation of the schools is by a department of the city, may establish a contingency fund to meet the cost of unanticipated expenses that may arise during the year. A detailed report of all expenditures from the contingency fund shall be made annually by the school board and published with their report.

II. Notwithstanding any other provision of law, a school district at an annual meeting may adopt an article authorizing, indefinitely until specific rescission, the school district to retain any year-end and unassigned general fund balance up to 2.5 percent of that fiscal year’s net assessment under RSA 198:5, for the purpose of having funds on hand to use as a revenue source for emergency expenditures and overexpenditures under RSA 32:11, or to be used as a revenue source to reduce the tax rate.

2 Effective Date. This act shall take effect 60 days after its passage.