Text: H03972 Text: H03974 Text: H03900 - H03999 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend the amendment, H-3498, to Senate File 266, as 1 2 amended, passed, and reprinted by the Senate, as 1 3 follows: 1 4 #1. Page 1, by inserting after line 17 the 1 5 following: 1 6 "The department of education shall conduct a study 1 7 of the possible uses for the remaining portion of the 1 8 interest earned on the permanent school fund after 1 9 transfers are made pursuant to section 257B.1A, 1 10 subsections 2 and 3. The department shall submit a 1 11 report of its findings and recommendations to the 1 12 general assembly and the legislative fiscal bureau by 1 13 January 1, 1996." 1 14 #2. Page 15, by inserting after line 17 the 1 15 following: 1 16 "Sec. 601. Notwithstanding section 257B.1A, 1 17 subsection 4, and 1994 Iowa Acts, chapter 1193, 1 18 section 15, for the fiscal year beginning July 1, 1 19 1994, and ending June 30, 1995, the remaining portion 1 20 of the interest earned on the permanent school fund 1 21 shall, after transfers are made pursuant to section 1 22 257B.1A, subsections 2 and 3, be deposited in the 1 23 interest for Iowa schools fund established under this 1 24 Act." 1 25 #3. Page 16, by inserting after line 31 the 1 26 following: 1 27 "Sec. 602. Section 257B.1, subsection 5, Code 1 28 1995, is amended by striking the subsection. 1 29 Sec. 603. Section 257B.1A, Code 1995, is amended 1 30 by striking the section and inserting in lieu thereof 1 31 the following: 1 32 257B.1A TRANSFER OF INTEREST. 1 33 1. The interest for Iowa schools fund is 1 34 established in the office of treasurer of state. The 1 35 department of revenue and finance shall deposit 1 36 interest earned on the permanent school fund in the 1 37 interest for Iowa schools fund. Moneys in the 1 38 interest for Iowa schools fund shall be transferred or 1 39 allocated only for school purposes as provided in this 1 40 section. 1 41 2. For a transfer of moneys from the interest for 1 42 Iowa schools fund to the first in the nation in 1 43 education foundation, prior to July 1, October 1, 1 44 January 1, and March 1 of each year, the governing 1 45 board of the first in the nation in education 1 46 foundation established in section 257A.2 shall certify 1 47 to the treasurer of state the cumulative total value 1 48 of contributions received under section 257A.7 for 1 49 deposit in the first in the nation in education fund 1 50 and for the use of the foundation. The cumulative 2 1 total value of contributions received includes the 2 2 value of the amount deposited in the national center 2 3 endowment fund established in section 263.8A in excess 2 4 of eight hundred seventy-five thousand dollars. The 2 5 value of in-kind contributions shall be based upon the 2 6 fair market value of the contribution determined for 2 7 income tax purposes. 2 8 The portion of the interest in Iowa schools fund 2 9 that is equal to the cumulative total value of 2 10 contributions, less the portion of the interest in 2 11 Iowa schools fund dedicated to the national center for 2 12 gifted and talented education, is dedicated to the 2 13 first in the nation in education foundation for that 2 14 year. The interest earned on this dedicated amount 2 15 shall be transferred by the treasurer of state to the 2 16 credit of the first in the nation in education 2 17 foundation. 2 18 3. For a transfer of moneys from the interest in 2 19 Iowa schools fund to the national center endowment 2 20 fund established in section 263.8A, prior to July 1, 2 21 October 1, January 1, and March 1 of each year, the 2 22 state university of Iowa shall certify to the 2 23 treasurer of state the cumulative total value of 2 24 contributions received and deposited in the national 2 25 center endowment fund. Within fifteen days following 2 26 certification by the state university of Iowa, the 2 27 treasurer of state shall transfer from the interest in 2 28 Iowa schools fund to the national center an amount 2 29 equal to one-half the cumulative total value of the 2 30 contributions deposited in the national center 2 31 endowment fund, not to exceed eight hundred seventy- 2 32 five thousand dollars." 2 33 #4. Page 20, line 11, by striking the figure "15," 2 34 and inserting the following: "601, 15, 602, 603,". 2 35 #5. By renumbering and correcting internal 2 36 references as necessary. 2 37 2 38 2 39 2 40 DAGGETT of Union 2 41 2 42 2 43 2 44 GRUNDBERG of Polk 2 45 2 46 2 47 2 48 OLLIE of Clinton 2 49 SF 266.730 76 2 50 kh/sc
Text: H03972 Text: H03974 Text: H03900 - H03999 Text: H Index Bills and Amendments: General Index Bill History: General Index
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