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Text: HF00569                           Text: HF00571
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House File 570

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 257B.1A, subsections 2 and 3, Code
  1  2 Supplement 1995, are amended to read as follows:
  1  3    2.  For a transfer of moneys from the interest for Iowa
  1  4 schools fund to the first in the nation in education
  1  5 foundation, prior to July 1, October 1, January 1, and March 1
  1  6 of each year, the governing board of the first in the nation
  1  7 in education foundation established in section 257A.2 shall
  1  8 certify to the treasurer of state the cumulative total value
  1  9 of contributions received under section 257A.7 for deposit in
  1 10 the first in the nation in education fund and for the use of
  1 11 the foundation.  The cumulative total value of contributions
  1 12 received includes the value of the amount deposited in the
  1 13 national center endowment fund established in section 263.8A
  1 14 in excess of eight hundred seventy-five thousand dollars.  The
  1 15 value of in-kind contributions shall be based upon the fair
  1 16 market value of the contribution determined for income tax
  1 17 purposes.
  1 18    The portion of the interest for Iowa schools permanent
  1 19 school fund that is equal to the cumulative total value of
  1 20 contributions, less the portion of the interest for Iowa
  1 21 schools permanent school fund dedicated to the national
  1 22 international center for gifted and talented education, is
  1 23 dedicated to the first in the nation in education foundation
  1 24 for that year.  The interest earned on this dedicated amount
  1 25 shall be transferred by the treasurer of state to the credit
  1 26 of the first in the nation in education foundation.
  1 27    3.  a.  For a transfer of moneys from the interest for Iowa
  1 28 schools fund to the national international center endowment
  1 29 fund established in section 263.8A, prior to July 1, October
  1 30 1, January 1, and March 1 of each year, the state university
  1 31 of Iowa shall certify to the treasurer of state the cumulative
  1 32 total value of contributions received and deposited in the
  1 33 national international center endowment fund.  Within fifteen
  1 34 days following certification by the state university of Iowa,
  1 35 the treasurer of state shall transfer from the interest for
  2  1 Iowa schools fund to the national international center an
  2  2 amount equal to the amount of interest earned on the portion
  2  3 of the permanent school fund that is equal to one-half the
  2  4 cumulative total value of the contributions deposited in the
  2  5 national international center endowment fund, not to exceed
  2  6 eight hundred seventy-five thousand dollars.
  2  7    b.  However, if prior to July 1, 1998, the general assembly
  2  8 appropriates moneys for the international center endowment
  2  9 fund established in section 263.8A in an aggregate amount
  2 10 equal to eight hundred seventy-five thousand dollars, the
  2 11 transfer of the interest earned based upon the cumulative
  2 12 value of contributions equal to one million seven hundred
  2 13 fifty thousand dollars deposited in the international center
  2 14 endowment fund on July 1, 1995, is no longer required under
  2 15 this section.  If, on or after July 1, 1998, the general
  2 16 assembly appropriates moneys for the international center
  2 17 endowment fund in an aggregate amount equal to six hundred
  2 18 seventy-five thousand dollars, the transfer of interest earned
  2 19 based upon the cumulative value of contributions equal to one
  2 20 million three hundred fifty thousand dollars deposited in the
  2 21 international center endowment fund between July 1, 1995, and
  2 22 June 30, 1998, is no longer required under this section.
  2 23    Sec. 2.  Section 257B.1A, Code Supplement 1995, is amended
  2 24 by adding the following new subsections:
  2 25    NEW SUBSECTION.  4.  In addition to the moneys transferred
  2 26 pursuant to subsection 3, paragraph "a", effective on the date
  2 27 on which the cumulative total value of contributions deposited
  2 28 in the international center endowment fund between July 1,
  2 29 1995, and June 30, 1998, equals or exceeds one million three
  2 30 hundred fifty thousand dollars, and annually thereafter, the
  2 31 treasurer of state shall transfer moneys from the interest for
  2 32 Iowa schools fund to the international center endowment fund
  2 33 in an amount equal to the interest earned on six hundred
  2 34 seventy-five thousand dollars in the permanent school fund.
  2 35    NEW SUBSECTION.  5.  Until the appropriations specified in
  3  1 subsection 3, paragraph "b", have been made by the general
  3  2 assembly, fifty percent of the interest remaining in the
  3  3 interest for Iowa schools fund after the total of the transfer
  3  4 of moneys to the first in the nation in education foundation
  3  5 pursuant to subsection 2 and after the transfer of moneys to
  3  6 the international center endowment fund in subsection 3,
  3  7 paragraph "a", shall, in addition, be transferred to the
  3  8 international center endowment fund and the remaining fifty
  3  9 percent shall become a part of the interest for Iowa schools
  3 10 fund.
  3 11    Sec. 3.  Section 263.8A, Code 1995, is amended to read as
  3 12 follows:
  3 13    263.8A  NATIONAL INTERNATIONAL CENTER FOR TALENTED AND
  3 14 GIFTED EDUCATION.
  3 15    The state board of regents shall establish and maintain at
  3 16 Iowa City as an integral part of the state university of Iowa
  3 17 the national international center for talented and gifted
  3 18 education.  The national international center shall provide
  3 19 programs to assist classroom teachers to teach gifted and
  3 20 talented students in regular classrooms, provide programs to
  3 21 enhance the learning experiences of gifted and talented
  3 22 students, serve as a center for national and international
  3 23 symposiums and policy forums for enhancing the teaching of
  3 24 gifted and talented students, and undertake other appropriate
  3 25 activities to enhance the programs of the center, including,
  3 26 but not limited to, coordinating and working with the world
  3 27 council for gifted and talented children, incorporated.
  3 28    A national An international center endowment fund is
  3 29 established at the state university of Iowa and gifts and
  3 30 grants to the national international center and investment
  3 31 earnings and returns on the endowment fund shall be deposited
  3 32 in the fund and interest earned on moneys in the fund may be
  3 33 expended by the state university of Iowa for the purposes for
  3 34 which the national international center was established.  
  3 35 HF 570
  4  1 kah/pk/25
     
Text: HF00569                           Text: HF00571
Text: HF00500 - HF00599                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
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