Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
SECTION 1. Notwithstanding section 72 of chapter 44 of the General Laws or any other general or special law to the contrary, funds received by the town of Milton under said section 72 of said chapter 44 shall not be considered unrestricted revenue of the town of Milton. The town of Milton shall deposit in a separate account for expenditures by the Milton school committee all such funds received. The Milton school committee may make expenditures from the separate account for any lawful educational purpose without further appropriation. An expenditure from the account on items qualifying as net school spending shall supplement the net school spending requirement of the district. The receipt of such funds shall not affect the calculation of the minimum required local contribution and state school aid as defined in section 2 of chapter 70 of the General Laws.
SECTION 2. This act shall apply to funds received by the town of Milton under section 72 of chapter 44 of the General Laws during fiscal year 2009 and thereafter.
SECTION 3. This act shall take effect upon its passage.
Approved July 30, 2008