Bill > SB5922

This bill allows school districts to petition the superintendent of public instruction for permission to transfer depreciation payments and earned interest from a fully depreciated student transportation vehicle to another fund for alternative use, provided the district is reducing its overall fleet due to changing student populations or transportation needs and the superintendent determines this reduction is appropriate. This change amends existing law regarding the reimbursement schedule for student transportation vehicles, which is managed by the superintendent and aims to cover the replacement cost of vehicles. The bill also clarifies that funds from the transportation vehicle fund, a dedicated account for school districts to purchase and maintain buses, can be transferred to other funds only as authorized by this new provision.