MN SF586

Extends the authorization for Independent School District No. 857 (Lewiston) to make annual fund transfers from calendar years 2002 through 2024 (previously ended in 2012).

Allows the district to permanently transfer up to $175,000 annually on June 30 from capital accounts in its general fund or unrestricted general fund to the debt redemption fund.

Requires eligible debt service revenue and debt service equalization aid for the district to be determined before the annual transfer of general fund revenue occurs.

Amends Laws 2001, First Special Session chapter 6, article 5, section 10, subdivision 4.

Takes effect the day following final enactment.