Authorizes capital reserve funds for special act school districts and requires annual reporting.

The bill amends the education law to authorize special act school districts to establish a capital reserve fund. Districts can retain funds in excess of allowable and reimbursable costs for services and programs provided to school-age students. The retained funds cannot be recoverable on reconciliation of tuition rates and must be used for repairs of capital improvements or equipment. Districts must provide annual reports on the retained funds.

Authorizes capital reserve funds for special act school districts and requires annual reporting.

The bill amends the education law to authorize special act school districts to establish a capital reserve fund. Districts can retain funds in excess of allowable and reimbursable costs for services and programs provided to school-age students. The retained funds cannot be recoverable on reconciliation of tuition rates and must be used for repairs of capital improvements or equipment. Districts must provide annual reports on the retained funds.