Tennessee HB0348 amends education finance to address local funding shortfalls and ensure local governments allocate budgeted funds to local education.
Tennessee HB0348 amends Tennessee Code Annotated, Section 49-3-314, to address local funding shortfalls in education finance. It specifies that if a local government fails to fully appropriate or allocate budgeted funds to a local education agency, the shortfall must be considered a nonrecurring expenditure. The maintenance of local funding effort for the following fiscal year will be based on the previous year's budget rather than the actual appropriation. The bill also mandates that any unfunded portion must be allocated in the subsequent fiscal year.
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- Legal Framework
- Critical Issues
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