School buses; use for public purposes by local governing bodies, insurance reimbursement.

Use of school buses for public purposes by local governing bodies; insurance reimbursement. Permits any local governing body that use school buses for certain public purposes pursuant to an agreement with a school board to reimburse the school board for the proportionate share of any insurance costs, both fixed and variable, of such buses incurred by such school board that are attributable to the use of such buses pursuant to such agreement in lieu of the existing statutory requirement for such a local governing body to supply sufficient insurance for such school buses.