Authorizes certain school districts and their municipalities to sign a memorandum of understanding authorizing a one-time annual increase to the.

This bill amends the education law to allow certain school districts and their municipalities to sign a memorandum of understanding authorizing a one-time annual increase to the amount of school district expenditures funded by city funds to be excluded from the maintenance of effort calculation. This memorandum must be adopted prior to the appropriation or transfer year determined at the time of adoption of the budget for the ensuing fiscal year and cannot be less than the city amount expended in the base year determined as of the end of the school year.

Authorizes certain school districts and their municipalities to sign a memorandum of understanding authorizing a one-time annual increase to the.

This bill amends the education law to allow certain school districts and their municipalities to sign a memorandum of understanding authorizing a one-time annual increase to the amount of school district expenditures funded by city funds to be excluded from the maintenance of effort calculation. This memorandum must be adopted prior to the appropriation or transfer year determined at the time of adoption of the budget for the ensuing fiscal year and cannot be less than the city amount expended in the base year determined as of the end of the school year.