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Senate Amendment 5429

Amendment Text

PAG LIN
  1  1    Amend House File 570, as amended, passed, and
  1  2 reprinted by the House, as follows:
  1  3    #1.  By striking everything after the enacting
  1  4 clause and inserting the following:
  1  5    "Section 1.  Section 257B.1A, subsections 2 and 3,
  1  6 Code Supplement 1995, are amended to read as follows:
  1  7    2.  For a transfer of moneys from the interest for
  1  8 Iowa schools fund to the first in the nation in
  1  9 education foundation, prior to July 1, October 1,
  1 10 January 1, and March 1 of each year, the governing
  1 11 board of the first in the nation in education
  1 12 foundation established in section 257A.2 shall certify
  1 13 to the treasurer of state the cumulative total value
  1 14 of contributions received under section 257A.7 for
  1 15 deposit in the first in the nation in education fund
  1 16 and for the use of the foundation.  The cumulative
  1 17 total value of contributions received includes the
  1 18 value of the amount deposited in the national center
  1 19 endowment fund established in section 263.8A in excess
  1 20 of eight hundred seventy-five thousand dollars.  The
  1 21 value of in-kind contributions shall be based upon the
  1 22 fair market value of the contribution determined for
  1 23 income tax purposes.
  1 24    The portion of the interest for Iowa schools fund
  1 25 that is equal to the cumulative total value of
  1 26 contributions, less the portion of the interest for
  1 27 Iowa schools fund dedicated to the national
  1 28 international center for gifted and talented
  1 29 education, is dedicated to the first in the nation in
  1 30 education foundation for that year.  The interest
  1 31 earned on this dedicated amount shall be transferred
  1 32 by the treasurer of state to the credit of the first
  1 33 in the nation in education foundation.
  1 34    3.  For a transfer of moneys from the interest for
  1 35 Iowa schools fund to the national international center
  1 36 endowment fund established in section 263.8A, prior to
  1 37 July 1, October 1, January 1, and March 1 of each
  1 38 year, the state university of Iowa shall certify to
  1 39 the treasurer of state the cumulative total value of
  1 40 contributions received and deposited in the national
  1 41 international center endowment fund.  Within fifteen
  1 42 days following certification by the state university
  1 43 of Iowa, the treasurer of state shall transfer from
  1 44 the interest for Iowa schools fund to the national
  1 45 international center an amount equal to one-half the
  1 46 cumulative total value of the contributions deposited
  1 47 in the national international center endowment fund,
  1 48 not to exceed eight hundred seventy-five thousand
  1 49 dollars.  In addition, if the cumulative total value
  1 50 of contributions deposited in the international center
  2  1 endowment fund between July 1, 1995, and June 30,
  2  2 1999, equals or exceeds one million three hundred
  2  3 fifty thousand dollars, effective July 1, 1999, the
  2  4 portion of the interest for Iowa schools fund used to
  2  5 determine the dedicated amount of interest earned for
  2  6 a year shall also equal one-half that total, not to
  2  7 exceed six hundred seventy-five thousand dollars.
  2  8    However, if, prior to July 1, 1999, the general
  2  9 assembly appropriates moneys for the international
  2 10 center endowment fund established in section 263.8A in
  2 11 an aggregate amount equal to eight hundred seventy-
  2 12 five thousand dollars, the transfer of the interest
  2 13 earned based upon the cumulative value of
  2 14 contributions equal to one million seven hundred fifty
  2 15 thousand dollars deposited in the international center
  2 16 endowment fund on July 1, 1996, is no longer required
  2 17 under this section.  If, on or after July 1, 1999, the
  2 18 general assembly appropriates moneys for the
  2 19 international center endowment fund in an aggregate
  2 20 amount equal to six hundred seventy-five thousand
  2 21 dollars, the transfer of interest earned based upon
  2 22 the cumulative value of contributions equal to one
  2 23 million three hundred fifty thousand dollars deposited
  2 24 in the international center endowment fund between
  2 25 July 1, 1996, and June 30, 1999, is no longer required
  2 26 under this section.
  2 27    Sec. 2.  Section 257B.1A, Code Supplement 1995, is
  2 28 amended by adding the following new subsection:
  2 29    NEW SUBSECTION.  4.  Until the appropriations
  2 30 specified in subsection 3 have been made by the
  2 31 general assembly, fifty percent of the portion of the
  2 32 interest on the interest for Iowa schools fund
  2 33 remaining after the total of the transfer of moneys to
  2 34 the first in the nation in education foundation
  2 35 pursuant to subsection 2 and the transfer of moneys to
  2 36 the international center endowment fund in subsection
  2 37 3 shall in addition be transferred to the
  2 38 international center endowment fund and the remaining
  2 39 fifty percent shall become a part of the interest for
  2 40 Iowa schools fund.
  2 41    Sec. 3.  Section 263.8A, Code 1995, is amended to
  2 42 read as follows:
  2 43    263.8A  NATIONAL INTERNATIONAL CENTER FOR TALENTED
  2 44 AND GIFTED EDUCATION.
  2 45    The state board of regents shall establish and
  2 46 maintain at Iowa City as an integral part of the state
  2 47 university of Iowa the national international center
  2 48 for talented and gifted education.  The national
  2 49 international center shall provide programs to assist
  2 50 classroom teachers to teach gifted and talented
  3  1 students in regular classrooms, provide programs to
  3  2 enhance the learning experiences of gifted and
  3  3 talented students, serve as a center for national and
  3  4 international symposiums and policy forums for
  3  5 enhancing the teaching of gifted and talented
  3  6 students, and undertake other appropriate activities
  3  7 to enhance the programs of the center, including, but
  3  8 not limited to, coordinating and working with the
  3  9 world council for gifted and talented children,
  3 10 incorporated.
  3 11    A national An international center endowment fund
  3 12 is established at the state university of Iowa and
  3 13 gifts and grants to the national international center
  3 14 and investment earnings and returns on the endowment
  3 15 fund shall be deposited in the fund and interest
  3 16 earned on moneys in the fund may be expended by the
  3 17 state university of Iowa for the purposes for which
  3 18 the national international center was established."
  3 19    #2.  Title page, by striking lines 1 through 3 and
  3 20 inserting the following:  "An Act relating to funding
  3 21 for a talented and gifted education center at the
  3 22 university of Iowa and naming of that center as an
  3 23 international center." 
  3 24 
  3 25 
  3 26                               
  3 27 COMMITTEE ON APPROPRIATIONS
  3 28 LARRY MURPHY, Chairperson
  3 29 HF 570.501 76
  3 30 kah/jw
     

Text: S05428                            Text: S05430
Text: S05400 - S05499                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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