Montana Code 20-9-380. School facilities fund — school major maintenance aid special revenue account
20-9-380. School facilities fund — school major maintenance aid special revenue account. (1) There is a school facilities fund administered by the department of administration. Pursuant to 17-5-703, a percentage of coal severance taxes received by the state must be deposited into this fund. Earnings not transferred to the school major maintenance aid account as provided in subsection (2) must be retained in the school facilities fund.
Terms Used In Montana Code 20-9-380
- district: means the territory, regardless of county boundaries, organized under the provisions of this title to provide public educational services under the jurisdiction of the trustees prescribed by this title. See Montana Code 20-6-101
- fund: means a separate detailed account of receipts and expenditures for a specific purpose as authorized by law or by the superintendent of public instruction under the provisions of subsection (2). See Montana Code 20-9-201
- school: means an institution for the teaching of children that is established and maintained under the laws of the state of Montana at public expense. See Montana Code 20-6-501
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Superintendent of public instruction: means that state government official designated as a member of the executive branch by the Montana constitution. See Montana Code 20-1-101
(2)The school major maintenance aid account established in 20-9-525 receives earnings from the school facilities fund as provided in 17-5-703.
(3)A school district that receives funds from the school major maintenance aid account shall, within 30 days of receiving the funds, file with the office of the superintendent of public instruction a document acknowledging it has received funds from the coal severance tax trust fund.