HB2164: School divisions, local; unexpended or unencumbered local school and educational funds.

HOUSE BILL NO. 2164

Offered January 9, 2013
A BILL to amend and reenact 22.1-100 of the Code of Virginia, relating to unexpended local school and educational funds.
Patron-- Morris
Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1.  That 22.1-100 of the Code of Virginia is amended and reenacted as follows:

22.1-100. Unexpended or unencumbered school and educational funds.

All sums of money derived from the Commonwealth which that are unexpended in any year in any school division shall revert to the fund of the Commonwealth from which derived unless the Board of Education directs otherwise. All sums derived from local funds unexpended or unencumbered in any year shall remain a part of the funds of the governing body appropriating the funds for use the next year, but no local funds shall be subject to redivision outside of the locality in which they were raised.