2013 House Bill 4368

Expand school “sinking fund” uses

Introduced in the House

March 5, 2013

Introduced by Rep. Adam Zemke (D-55)

To allow school districts to use “sinking fund” taxes for “school security equipment.” Under current law, sinking funds are permanent funds that may be used only for infrastructure-related spending including the purchase of land or construction and (major) repair of school buildings. Schools are allowed to levy up to five mills for sinking funds.

Referred to the Committee on Tax Policy