SD HB1249

School Finance Accountability Board consists of five Governor-appointed members serving four-year terms within the Department of Education

Board may reduce state aid, impose $500 per full-time equivalent teacher penalties, or require accreditation review for districts exceeding allowable general fund cash balances or failing to meet teacher compensation requirements

Districts may request waivers from state aid reductions or penalties by demonstrating special circumstances caused non-compliance

Waivers may be conditioned on three years of compliance; the board may rescind waivers and impose penalties if districts fail to maintain compliance during this period

Board must promulgate rules establishing waiver request procedures and factors for consideration, including the impact of employee retirements on districts