Authorizes the Salamanca city school district to create a reserve fund for federal impact aid to stabilize tax levies if aid is reduced.

The bill authorizes the Salamanca city school district to establish a federal impact aid reserve fund to stabilize tax levies in the event federal impact aid is reduced. The fund can hold up to $5 million. The board of education can make payments into the fund from unassigned fund balances and other reserve funds, subject to voter approval. Withdrawals from the fund must be disclosed in the district's property tax report card. The fund's balance cannot exceed the amount approved by voters.

Authorizes the Salamanca city school district to create a reserve fund for federal impact aid to stabilize tax levies if aid is reduced.

The bill authorizes the Salamanca city school district to establish a federal impact aid reserve fund to stabilize tax levies in the event federal impact aid is reduced. The fund can hold up to $5 million. The board of education can make payments into the fund from unassigned fund balances and other reserve funds, subject to voter approval. Withdrawals from the fund must be disclosed in the district's property tax report card. The fund's balance cannot exceed the amount approved by voters.