HB1229 - Tennessee - Education, Local Education Agency

Companion Bill SB1089. Education - Establishes a matching fund program for LEAs in which every privately donated dollar may be matched by two state dollars for use for educational purposes. - Amends TCA Title 49, Chapter 3. Fiscal Summary for HB1229 / *SB1089Increase State Expenditures - $6,625,000 Increase Local Govt. Revenues - $6,625,000 Bill Summary for HB1229 / *SB1089 This bill authorizes any LEA to raise private funds by means of donations. The donations would be kept in a separate account by the LEA and the LEA would be required to annually certify the amount of private donations raised by the LEA. This bill requires the department of education to remit state matching funds to each LEA at a ratio of one state dollar for every two private dollars donated. This bill authorizes LEAs to expend the privately donated and matching [...]

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