HB 5392 Summary

• Changes appropriations for public schools from fiscal year 2020 to fiscal year 2021, with amounts to be determined (previously specified as $13,287,765,000 from state school aid fund, $62,620,000 from general fund, and up to $75,400,000 from community district education trust fund).

• Removes appropriations from the MPSERS retirement obligation reform reserve fund ($1,900,000) and water emergency reserve fund ($100) that were included in the prior fiscal year.

• Updates statutory language in payment distribution provisions by replacing "shall" with "must" in three locations regarding installment payments and grant payments to districts and intermediate districts.

• Clarifies that advance release of funds to districts or intermediate districts requires written concurrence from the state treasurer and state budget director.