Sacramento, CA – Local school districts would have more flexibility in managing their own money during economic downturns under legislation approved on Monday by the Senate.
Senate Bill 751, approved on a 38-0 vote, was co-authored by Sen. Steve Glazer, D-Orinda, and Sen. Jerry Hill, D-San Mateo. It would lift the local school district reserve cap from 6 percent to 17 percent, a nationally recognized standard for local government agency reserves. The bill now moves to the Assembly.