This bill modifies the provision of law related to carrying forward general operating fund unallocated balances at the end of a school administrative unit's fiscal year. Under current law, unallocated balances in excess of 5% of the previous fiscal year's school budget must be used to reduce the state and local share of the total allocation for the purposes of computing state subsidy and school boards may carry forward unallocated balances in excess of 5% of the previous year's school budget and disburse the funds over a period not to exceed 3 years, except for in fiscal years 2021-22, 2022-23, 2023-24 and 2024-25, during which time the applicable percentage threshold is 9% of the previous year's school budget, not 5%. The bill modifies this provision to provide that the temporary percentage threshold of
9% applies to all future fiscal years.

Statutes affected:
Bill Text LD 1103, SP 466: 20-A.15689