SB675 (2020) Detail

Relative to school board expenditure of year-end fund balances.


SB 675  - AS INTRODUCED

 

 

2020 SESSION

20-2907

06/08

 

SENATE BILL 675

 

AN ACT relative to school board expenditure of year-end fund balances.

 

SPONSORS: Sen. Kahn, Dist 10; Sen. Morgan, Dist 23; Sen. Watters, Dist 4; Rep. Luneau, Merr. 10; Rep. Cahill, Rock. 17

 

COMMITTEE: Education and Workforce Development

 

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ANALYSIS

 

This bill increases the amount of the year-end unassigned general funds a school district may retain.  This bill also changes the purposes for which such funds may be expended.

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

20-2907

06/08

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty

 

AN ACT relative to school board expenditure of year-end fund balances.

 

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

 

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

II.  Notwithstanding any other provision of law, a school district by a vote of the legislative body may authorize, indefinitely until specific rescission, the school district to retain any unused portion of the year-end unassigned general funds, [in an amount not to exceed, in any fiscal year, 2.5 percent of the current fiscal year's net assessment pursuant to 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] from the preceding fiscal year in subsequent fiscal years, provided that the total amount of year-end unassigned general funds does not exceed, in any fiscal year, 5 percent of the current fiscal year's net assessment under RSA 198:5.

(a)  Prior to expending retained general funds, the school board shall hold a prior public hearing on the action to be taken with such funds.  Notice of the time, place, and subject of such hearing shall be published in a newspaper of general circulation in the relevant municipality at least 7 days before the meeting is held.

(b)  An annual accounting and report of the activities of the retained general funds shall be presented to the school board of the district and published in the annual report.

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

Links

SB675 at GenCourtMobile
SB675 Discussion

Action Dates

Date Body Type
Feb. 4, 2020 Senate Hearing
March 19, 2020 Senate Floor Vote

Bill Text Revisions

SB675 Revision: 8001 Date: Jan. 14, 2020, 4:02 p.m.
SB675 Revision: 7988 Date: Jan. 14, 2020, 2:43 p.m.

Docket

Date Status
Jan. 8, 2020 Introduced 01/08/2020 and Referred to Education and Workforce Development; SJ 2
Feb. 4, 2020 Hearing: 02/04/2020, Room 103, LOB, 10:00 am; SC 5
March 19, 2020 Committee Report: Ought to Pass; Vote 5-0; CC SC 11
June 16, 2020 Placed on Laid on Table Consent List and Laid on Table, MA, VV; 06/16/2020; SJ 8
June 16, 2020 Pending Motion Ought to Pass; 06/16/2020; SJ 8