Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced

This bill authorizes the Salamanca city school district to create a reserve fund of up to $5 million to help stabilize its tax revenue if federal impact aid decreases. The district can only establish this fund if voters approve it in a special ballot, and money can be moved into the fund from existing unassigned balances only if doing so does not exceed the approved limit. If the fund is no longer needed, the board can withdraw the money to lower the annual tax levy without needing another vote from the public. The bill also sets rules for how the fund must be managed, invested, and reported to ensure transparency.