CS/CS/HB 323 - Education Bill Summary

• Requires Auditor General to contact district school boards with findings from previous audits and mandates boards provide evidence of corrective action within 45-180 days or face notification to Legislative Auditing Committee.

• Extends Deferred Retirement Option Program (DROP) participation for certain instructional and administrative personnel in K-12 schools, allowing up to 36 additional calendar months beyond the standard 60-month limit if termination occurs at end of school year.

• Mandates district school board member travel exceeding $500 requires prior board approval; out-of-state travel requests must include itemized expense details and allow public comment opportunity.

• Requires schools receiving over $500 million in combined federal, state, and local funds to employ an internal auditor with broad audit scope covering financial records, compliance, fraud detection, and risk assessment.

• Establishes financial literacy as required elective course covering banking, credit, debt management, taxes, and investments; repeals minimum classroom expenditure requirements and imposes salary withholding for board members and superintendents if district meets financial emergency conditions.