Text: SSB02214 Text: SSB02216 Text: SSB02200 - SSB02299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 260C.22, Code 1995, is amended by
1 2 adding the following new subsection:
1 3 NEW SUBSECTION. 4. The board of directors of any merged
1 4 area that failed to certify for levy under subsection 3 by
1 5 March 15, 1982, and March 15, 1983, may certify for levy by
1 6 April 15, 1997, and April 15, 1998, a tax on taxable property
1 7 in the merged area at rates that will provide total revenues
1 8 for the two years equal to five percent of the area school's
1 9 general fund expenditures for the fiscal year ending June 30,
1 10 1995, in order to provide a cash reserve for that area school.
1 11 As nearly as possible, one-half the revenue for the cash
1 12 reserve fund shall be collected during each year.
1 13 The revenues derived from the levies shall be placed in a
1 14 separate cash reserve fund. Notwithstanding subsection 3,
1 15 moneys from the cash reserve fund established by a merged area
1 16 under subsection 3 or this subsection shall be used only to
1 17 alleviate temporary cash shortages and for the acquisition,
1 18 lease, lease-purchase, installation, and maintenance of
1 19 instructional technology equipment, including hardware and
1 20 software, materials and supplies, and staff development and
1 21 training related to instructional technology. If moneys from
1 22 the cash reserve fund are used to alleviate a temporary cash
1 23 shortage, the cash reserve fund shall be reimbursed
1 24 immediately from the general fund of the community college as
1 25 funds in the general fund become available, but in no case
1 26 later than June 30 of the current fiscal year, to repay the
1 27 funds taken from the cash reserve fund.
1 28 EXPLANATION
1 29 This bill permits the board of directors of any merged area
1 30 that failed to certify a cash reserve levy in 1982 or 1983
1 31 another opportunity certify a cash reserve levy. In addition
1 32 to allowing merged areas to use the funds derived to alleviate
1 33 temporary cash shortages, the bill permits the funds to be
1 34 expended on instructional technology.
1 35 Under the Code, merged area boards had an opportunity in
2 1 1982 and 1983 to certify for levy a tax on taxable property in
2 2 the merged area at rates that provided total revenues for the
2 3 two years equal to 5 percent of an area school's general fund
2 4 expenditures for the fiscal year ending June 30, 1980, in
2 5 order to provide a cash reserve for that area school. The
2 6 revenues derived from the levies had to be placed in a
2 7 separate cash reserve fund and used only to alleviate
2 8 temporary cash shortages.
2 9 The bill provides any merged area that did not utilize the
2 10 authority to certify a cash reserve levy in 1982 or 1983 with
2 11 another opportunity to certify a cash reserve levy. However,
2 12 the bill permits all merged areas that have certified a cash
2 13 reserve levy under current law or under the bill to utilize
2 14 the revenues derived from the levies only to alleviate
2 15 temporary cash shortages and for the acquisition, lease,
2 16 lease-purchase, installation, and maintenance of instructional
2 17 technology equipment, including hardware and software,
2 18 materials and supplies, and staff development and training
2 19 related to instructional technology.
2 20 LSB 4264XC 76
2 21 kh/jj/8
Text: SSB02214 Text: SSB02216 Text: SSB02200 - SSB02299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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