Text: SF02333 Text: SF02335 Text: SF02300 - SF02399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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 contributions1 12received includes the value of the amount deposited in the1 13national center endowment fund established in section 263.8A1 14in 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 fund that is 1 19 equal to the cumulative total value of contributions, less the 1 20 portion of the interest for Iowa schools fund dedicated to the 1 21nationalinternational center for gifted and talented 1 22 education, is dedicated to the first in the nation in 1 23 education foundation for that year. The interest earned on 1 24 this dedicated amount shall be transferred by the treasurer of 1 25 state to the credit of the first in the nation in education 1 26 foundation. 1 27 3. For a transfer of moneys from the interest for Iowa 1 28 schools fund to thenationalinternational 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 33nationalinternational 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 thenationalinternational center an 2 2 amount equal to one-half the cumulative total value of the 2 3 contributions deposited in thenationalinternational center 2 4 endowment fund, not to exceed eight hundred seventy-five 2 5 thousand dollars. In addition, if the cumulative total value 2 6 of contributions deposited in the international center 2 7 endowment fund between July 1, 1995, and June 30, 1999, equals 2 8 or exceeds one million three hundred fifty thousand dollars, 2 9 effective July 1, 1999, the portion of the interest for Iowa 2 10 schools fund used to determine the dedicated amount of 2 11 interest earned for a year shall also equal one-half that 2 12 total, not to exceed six hundred seventy-five thousand 2 13 dollars. 2 14 However, if, prior to July 1, 1999, the general assembly 2 15 appropriates moneys for the international center endowment 2 16 fund established in section 263.8A in an aggregate amount 2 17 equal to eight hundred seventy-five thousand dollars, the 2 18 transfer of the interest earned based upon the cumulative 2 19 value of contributions equal to one million seven hundred 2 20 fifty thousand dollars deposited in the international center 2 21 endowment fund on July 1, 1996, is no longer required under 2 22 this section. If, on or after July 1, 1999, the general 2 23 assembly appropriates moneys for the international center 2 24 endowment fund in an aggregate amount equal to six hundred 2 25 seventy-five thousand dollars, the transfer of interest earned 2 26 based upon the cumulative value of contributions equal to one 2 27 million three hundred fifty thousand dollars deposited in the 2 28 international center endowment fund between July 1, 1996, and 2 29 June 30, 1999, is no longer required under this section. 2 30 Sec. 2. Section 257B.1A, Code Supplement 1995, is amended 2 31 by adding the following new subsection: 2 32 NEW SUBSECTION. 4. Until the appropriations specified in 2 33 subsection 3 have been made by the general assembly, fifty 2 34 percent of the portion of the interest on the interest for 2 35 Iowa schools fund remaining after the total of the transfer of 3 1 moneys to the first in the nation in education foundation 3 2 pursuant to subsection 2 and the transfer of moneys to the 3 3 international center endowment fund in subsection 3 shall in 3 4 addition be transferred to the international center endowment 3 5 fund and the remaining fifty percent shall become a part of 3 6 the interest for Iowa schools fund. 3 7 Sec. 3. Section 263.8A, Code 1995, is amended to read as 3 8 follows: 3 9 263.8ANATIONALINTERNATIONAL CENTER FOR TALENTED AND 3 10 GIFTED EDUCATION. 3 11 The state board of regents shall establish and maintain at 3 12 Iowa City as an integral part of the state university of Iowa 3 13 thenationalinternational center for talented and gifted 3 14 education. Thenationalinternational center shall provide 3 15 programs to assist classroom teachers to teach gifted and 3 16 talented students in regular classrooms, provide programs to 3 17 enhance the learning experiences of gifted and talented 3 18 students, serve as a center for national and international 3 19 symposiums and policy forums for enhancing the teaching of 3 20 gifted and talented students, and undertake other appropriate 3 21 activities to enhance the programs of the center, including, 3 22 but not limited to, coordinating and working with the world 3 23 council for gifted and talented children, incorporated. 3 24A nationalAn international center endowment fund is 3 25 established at the state university of Iowa and gifts and 3 26 grants to thenationalinternational center and investment 3 27 earnings and returns on the endowment fund shall be deposited 3 28 in the fund andinterest earned on moneys in the fundmay be 3 29 expended by the state university of Iowa for the purposes for 3 30 which thenationalinternational center was established. 3 31 EXPLANATION 3 32 This bill changes the name of the national center for 3 33 talented and gifted education to the international center for 3 34 talented and gifted and provides for the discontinuation of 3 35 the current allocation of a portion of the interest from the 4 1 interest for Iowa schools fund at such time as there is an 4 2 appropriation of $875,000 to the endowment fund of the 4 3 international center. There is further authorization for a 4 4 payment of a portion of the interest, if an additional 4 5 $1,350,000 is raised through private contributions to the 4 6 international center endowment fund during a four-year period 4 7 beginning July 1, 1995, until a matching $675,000, on a one- 4 8 to-two basis, has been appropriated by the general assembly. 4 9 The bill also expands the definition of the work of the 4 10 center. 4 11 LSB 4309SV 76 4 12 kah/cf/24
Text: SF02333 Text: SF02335 Text: SF02300 - SF02399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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