For the fiscal year ending June 30, 2020, and each fiscal year thereafter, notwithstanding any provision of the general statutes or any special act, municipal charter, home rule ordinance or other ordinance, the board of finance in each town having a board of finance, the board of selectman in each town having no board of finance or the authority making appropriations for the school district for each town may deposit into a nonlapsing account any unexpended funds from the prior fiscal year from the budgeted appropriation for education for the town, provided

1. (1) such deposited amount does not exceed two per cent of the total budgeted appropriation for education for such prior fiscal year,
2. (2) each expenditure from such account shall be made only for educational purposes, and
3. (3) each such expenditure shall be authorized by the local board of education for such town.

(P.A. 10-108, S. 32; P.A. 19-117, S. 285.)

History: P.A. 10-108 effective July 1, 2010; P.A. 19-117 replaced “2011” with “2020”, designated existing provision re amount of total budgeted appropriation for education as Subdiv. (1) and amended same to add “deposited” and replace “one per cent” with “two per cent”, and added Subdiv. (2) re expenditures from account to be made only for educational purposes and added Subdiv. (3) re expenditure to be authorized by local board of education, effective July 1, 2019.