There is hereby created the "state board of school finance" which shall consist of the state superintendent of free schools, as chairman, the State Tax Commissioner, and the director of the budget as secretary. The members of the board shall serve without additional compensation. The board shall meet upon the call of the chairman or a majority of its members. It shall keep a minute record of all proceedings and a special record of general regulations and special orders. The meeting place of the board shall be at the state capital. The concurrence of a majority of the members shall be necessary for all official acts. The board shall exercise the powers and perform the duties conferred upon it by this article.
The personnel of the state departments represented upon the membership of the board shall be available to the board for performance of its powers and duties.