School districts that consolidate may transfer funds.
ENTITLED, An Act to
allow certain school district transfers.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended by adding thereto a NEW SECTION to read as
Notwithstanding any other provision of this chapter, if two or more school districts consolidate,
for one year after consolidation pursuant to
13-6-61, the newly formed school district may
transfer any money from its general fund to its capital outlay fund. However, any funds transferred
pursuant to this section may only be spent for one-time costs related to the consolidation. Any
funds transferred to the capital outlay fund, but not lawfully obligated within one year of the date
of the consolidation, shall revert to the school district's general fund. The Department of Education
and Cultural Affairs shall promulgate rules pursuant to chapter 1-26 to require the necessary
information and establish procedures necessary to implement this section.
Signed February 23, 2002.