MS HB482

Removes the requirement for school districts with ending fund balances equal to or less than 7% of maintenance fund revenue to file a cost reduction plan with the State Department of Education.

Changes the State Board of Education's authority from "may" to "shall" adopt rules and regulations, requiring them to prescribe the method for examining school district ending fund balances for fiscal stability.

Eliminates previous requirements that cost reduction plans include specific components such as descriptions of cost savings methods, reductions in noninstructional personnel before instructional staff cuts, and other specified plan contents.

Establishes that failure to comply with State Board of Education rules regarding ending fund balances constitutes a violation of the Mississippi Public School Accountability Standards.

Takes effect July 1, 2015.