ENTITLED, An Act to
allow school districts to expend from the capital outlay fund for some of their
mileage reimbursement costs.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended to read as follows:
The capital outlay fund of the school district is a fund provided by law to meet
expenditures which result in the acquisition or lease of or additions to real property, plant, or
equipment. Such an expenditure shall be for land, existing facilities, improvement of grounds,
construction of facilities, additions to facilities, remodeling of facilities, or for the purchase or lease
of equipment. It may also be used for installment or lease-purchase payments for the purchase of real
property, plant, or equipment, which have a contracted terminal date not exceeding twenty years
from the date of the installment contract or lease-purchase and for the payment of the principal of
and interest on capital outlay certificates issued pursuant to § 13-16-6.2.
Any purchase of one thousand dollars or less may be paid out of the general fund. The total
accumulated unpaid principal balances of such installment contracts and lease-purchase and the
outstanding principal amounts of such capital outlay certificates may not exceed three percent of the
taxable valuation. The school district shall provide a sufficient levy each year under the provisions
of § 13-16-7 to meet the annual installment contract, lease-purchase, and capital outlay certificate
payments, including interest.
A school district which contracts its student transportation may expend from the capital outlay
fund an amount not to exceed fifteen percent of the contract amount. In addition, a school district
which reimburses for mileage instead of providing transportation pursuant to
13-30-3, may use the
capital outlay fund to pay for fifteen percent of its mileage reimbursement costs.
The capital outlay fund may be used to purchase textbooks and instructional software.
The capital outlay fund may be used to purchase warranties on capital assets if the warranties do
not include supplies.
An Act to allow school districts to expend from the capital outlay fund for some of their mileage
I certify that the attached
originated in the
Speaker of the House
President of the Senate
Secretary of the Senate
File No. ____
Chapter No. ______
Received at this Executive Office
this _____ day of _____________ ,
20____ at ____________ M.
for the Governor
The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
STATE OF SOUTH DAKOTA,
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
Secretary of State
Asst. Secretary of State