McCready bill would allow sinking fund dollars to be used for school

first_img20Feb McCready bill would allow sinking fund dollars to be used for school security and technology updates Categories: McCready News,News State Rep. Mike McCready today introduced legislation that would open school sinking funds for uses in other critical costs for area schools.House Bill 4281 expands the usage of school sinking funds to allow for the purchase or upgrade of technology and school security costs.Sinking funds are additional taxes voters can approve to help pay for local school costs as a supplement to state and federal funding.Under current law, voters can approve up to five mills which can only be used for real estate, construction and repair of school buildings.“While maintaining our school buildings is important, schools face other important costs that can vary by district including security and technology needs,” said McCready, R-Bloomfield Hills. “Michigan law gives local voters the chance to approve sinking funds to improve their local schools and my legislation would give schools more flexibility to address important needs that they’re facing, other than maintaining the building itself.”McCready’s legislation sets a maximum for collection of the sinking funds to 10 years for technology upgrades and 20 years for school security costs.HB 4281 has been referred to the House Committee on Education for consideration.last_img

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