MO HB1558

Repeals and reenacts section 165.011, RSMo, governing school district fund accounting and transfers.

Permits a one-time transfer during school year 2014-15 from the incidental fund to the capital projects fund for a district in a first-class county with 115,000-150,000 inhabitants that maintains its office in a home rule city with 13,500-15,000 inhabitants.

Allows the specified district to transfer unrestricted incidental funds to the capital projects fund for constructing capital projects to improve student safety, provided the incidental fund balance does not fall below 20 percent.

Maintains existing restrictions on fund transfers and penalties for unlawful transfers, including state aid deductions over up to five years.