SB 440 - This act pertains to allowable transfers for payment of lease purchases by schools. Currently, payments for lease purchases must be made from the capital projects fund, and transfers of operating revenues to the capital projects fund are limited.

The bill allows a district which levies a debt service levy no less than the statewide average debt service levy for the preceding year to be treated as a grandfathered district and transfer operating revenues to the capital projects fund to meet obligations of lease purchases pursuant to subsection 7 of section 165.011, RSMo.

OTTO FAJEN