MS HB1407

Removes the requirement that all school districts process a single monthly payroll with electronic settlement through mandatory direct deposit of net pay for all school district employees.

Maintains the existing payment schedule for Adequate Education Program Fund distributions to school districts: one-twelfth of annual funds paid on two days prior to the last day of each month (or next business day), with December payments on December 15th or next business day.

Allows the State Department of Education to pay school districts from common school fund and Adequate Education Program Fund on dates earlier than scheduled if determined to be in the best interest of districts.

Preserves provisions requiring the State Fiscal Officer to delay fund transfers to all districts if the State General Fund balance is inadequate to pay all districts on the due date.

Effective July 1, 2013.