Raised H.B. No. 7112
Session Year 2019


AN ACT INCREASING THE AMOUNT A TOWN MAY DEPOSIT INTO A NONLAPSING ACCOUNT FOR UNEXPENDED EDUCATION FUNDS.

To increase the amount of unexpended education funds that a town may deposit into a nonlapsing account at the end of each fiscal year from one per cent to two per cent, and to require that any expenditure of funds from such nonlapsing account be authorized by the local board of education and for educational purposes only.