17 | 16 | | |
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18 | 17 | | |
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19 | 18 | | |
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20 | 19 | | AN ACT INCREASING THE AMOUNT A TOWN MAY DEPOSIT INT O A |
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21 | 20 | | NONLAPSING ACCOUNT F OR UNEXPENDED EDUCAT ION FUNDS. |
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22 | 21 | | Be it enacted by the Senate and House of Representatives in General |
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23 | 22 | | Assembly convened: |
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24 | 23 | | |
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25 | 24 | | Section 1. Section 10-248a of the general statutes is repealed and the 1 |
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26 | 25 | | following is substituted in lieu thereof (Effective July 1, 2019): 2 |
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27 | 26 | | For the fiscal year ending June 30, [2011] 2020, and each fiscal year 3 |
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28 | 27 | | thereafter, notwithstanding any provision of the general statutes or 4 |
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29 | 28 | | any special act, municipal charter, home rule ordinance or other 5 |
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30 | 29 | | ordinance, the board of finance in each town having a board of finance, 6 |
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31 | 30 | | the board of selectman in each town having no board of finance or the 7 |
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32 | 31 | | authority making appropriations for the school district for each town 8 |
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33 | 32 | | may deposit into a nonlapsing account any unexpended funds from 9 |
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34 | 33 | | the prior fiscal year from the budgeted appropriation for education for 10 |
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35 | 34 | | the town, provided (1) such deposited amount does not exceed [one] 11 |
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36 | 35 | | two per cent of the total budgeted appropriation for education for such 12 |
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37 | 36 | | prior fiscal year, (2) each expenditure from such account shall be made 13 |
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38 | 37 | | only for educational purposes, and (3) each such expenditure shall be 14 |
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39 | 38 | | authorized by the local board of education for such town. 15 Raised Bill No. 7112 |
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40 | 39 | | |
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41 | 40 | | |
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51 | | - | ED Joint Favorable |
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| 49 | + | Statement of Purpose: |
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| 50 | + | To increase the amount of unexpended education funds that a town |
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| 51 | + | may deposit into a nonlapsing account at the end of each fiscal year |
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| 52 | + | from one per cent to two per cent, and to require that any expenditure |
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| 53 | + | of funds from such nonlapsing account be authorized by the local |
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| 54 | + | board of education and for educational purposes only. |
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| 55 | + | [Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, |
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| 56 | + | except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is |
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| 57 | + | not underlined.] |
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