HB1218 Summary

• Amends Section 15.1-07-29 to allow school districts to carry over funds to the next fiscal year within specified limits, changing the maximum ending fund balance for taxable years after December 31, 2018 to twenty percent of the district's current annual budget or five hundred thousand dollars, whichever is greater.

• Amends Section 15.1-27-35.3 to establish that beginning July 1, 2019, the superintendent of public instruction shall subtract from school district payments any unobligated general fund balance in excess of twenty percent of actual expenditures or five hundred thousand dollars, whichever is greater.

• Excludes moneys received from the federal education jobs fund program from a district's unobligated general fund balance calculations.

• Makes Section 2 of the Act effective July 1, 2015 and declares it an emergency measure.