ASSEMBLY, No. 1382

STATE OF NEW JERSEY

Introduced Pending Technical Review by Legislative Counsel

PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION

By Assemblymen STEELE and PASCRELL

An Act concerning certain notification by school districts of general fund free balances and supplementing chapter 7D of Title 18A of the New Jersey Statutes.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. Notwithstanding the provisions of any other law, rule or regulation to the contrary, a school district shall report the amount of its general fund free balance to the municipality or, in the case of a regional district, to each constitutent municipality, on October 1, January 1, April 1, and July 1 of each year.

    2. This act shall take effect immediately.

STATEMENT

    This bill requires a school district to report its surplus to the municipality or, in the case of a regional district, to each constituent municipality, on October 1, January 1, April 1, and July 1 of each year.

Requires school district to report its surplus to the muncipality quarterly.