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ND HB1028
Bill
Status
3/26/2021
Primary Sponsor
Legislative Management
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AI Summary
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Allows school district boards to temporarily transfer moneys between general and building funds that were transferred into the building fund between March 13, 2020, and July 1, 2020, with transfers back to the general fund permitted through June 30, 2021.
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Permits school districts to pay moneys that have remained in the building fund for ten years or more into the general fund and include them as cash on hand for budget purposes.
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Allows transfer of unobligated funds from the building fund to the general fund if the school district has insufficient collections from current taxes and other income, provided the district has issued certificates of indebtedness equal to fifty percent of outstanding uncollected general fund property tax.
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Limits any transfer of funds from the building fund to the general fund to no more than two years.
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All amendments are effective only through June 30, 2021, after which the provisions become ineffective, and the Act is declared an emergency measure.
Legislative Description
The ability of a school district to temporarily transfer excess funds accruing as a result of the COVID-19 pandemic between the general fund and the building fund of the school district; to provide an expiration date; and to declare an emergency.
Last Action
Signed by Governor 03/25
3/26/2021