Establishes a fund for matching school district expenditures of reserve moneys to increase teacher salaries.

The bill creates the "Matching Grants for Teachers Plan Fund" in the state treasury to provide matching grants to school districts that use their reserves to increase teacher salaries. Districts must use all interest earned from specified funds to supplement, not supplant, teacher salaries. Districts can apply for grants equal to the amount withdrawn from reserves. A district must deposit at least $100,000 into reserves and cannot exhaust all reserves or receive more than $1 million annually. The Department of Elementary and Secondary Education administers the fund.

Establishes a fund for matching school district expenditures of reserve moneys to increase teacher salaries.

The bill creates the "Matching Grants for Teachers Plan Fund" in the state treasury to provide matching grants to school districts that use their reserves to increase teacher salaries. Districts must use all interest earned from specified funds to supplement, not supplant, teacher salaries. Districts can apply for grants equal to the amount withdrawn from reserves. A district must deposit at least $100,000 into reserves and cannot exhaust all reserves or receive more than $1 million annually. The Department of Elementary and Secondary Education administers the fund.