Authorizes the Salamanca city school district to establish a reserve fund for federal impact aid in case of reduction.

The bill authorizes the Salamanca city school district to create a reserve fund for federal impact aid, up to $5,000,000, to stabilize the tax levy and maintain educational services if federal aid is reduced. The fund can be funded from unassigned balances and other reserve funds, but not exceeding the approved amount. The fund's administration, deposits, investments, and withdrawals follow specific education law provisions. The fund's establishment requires voter approval.

Authorizes the Salamanca city school district to establish a reserve fund for federal impact aid in case of reduction.

The bill authorizes the Salamanca city school district to create a reserve fund for federal impact aid, up to $5,000,000, to stabilize the tax levy and maintain educational services if federal aid is reduced. The fund can be funded from unassigned balances and other reserve funds, but not exceeding the approved amount. The fund's administration, deposits, investments, and withdrawals follow specific education law provisions. The fund's establishment requires voter approval.