Bill > H1831

This bill proposes to amend Chapter 40 of the General Laws by adding a new section, Section 13D, which would allow school districts to establish a special education stabilization fund. This fund, if accepted by a majority vote of the school committee and the legislative body of the town or towns, could be used to cover unanticipated or unbudgeted costs related to special education tuition and transportation without requiring a new appropriation. The total balance in this fund would be capped at 2% of the school district's annual net school spending, which refers to the total amount spent on education in a given year. The district treasurer would be authorized to invest the money in the fund, with any interest earned being added back to the fund. For regional school districts, funds can only be added to this stabilization fund through appropriations in the annual budget voted on at town meetings of the member communities.