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House Journal: Page 2198: Tuesday, May 2, 1995

Page 17

 1   interest for Iowa schools fund established under this
 2   Act.
 3     Sec. 16.  There is appropriated from the
 4   scholarship and tuition grant reserve fund to the
 5   college student aid commission for the fiscal year
 6   beginning July 1, 1995, and ending June 30, 1996, the
 7   amount of $160,000, or the unobligated and
 8   unencumbered moneys transferred by August 31, 1995, to
 9   the fund at the close of the 1994-1995 fiscal year,
10   whichever amount is greater, for purposes of the work-
11   study program, in addition to funds appropriated in
12   section 261.85.
13     Sec. 17.  Funds appropriated for state scholarships
14   pursuant to section 261.25, subsection 2, for the
15   fiscal year beginning July 1, 1995, and ending June
16   30, 1996, shall be used in their entirety to fund
17   scholarships to eligible students, and the college
18   student aid commission shall not place an across-the-
19   board ceiling on the amount distributed under the
20   state scholarship program.
21     Sec. 18.  Section 257B.1, subsection 5, Code 1995,
22   is amended by striking the subsection.
23     Sec. 19.  Section 257B.1A, Code 1995, is amended by
24   striking the section and inserting in lieu thereof the
25   following:
26     257B.1A  TRANSFER OF INTEREST.
27     1.  The interest for Iowa schools fund is
28   established in the office of treasurer of state.  The
29   department of revenue and finance shall deposit
30   interest earned on the permanent school fund in the
31   interest for Iowa schools fund.  Moneys in the
32   interest for Iowa schools fund shall be transferred or
33   allocated only for school purposes as provided in this
34   section.
35     2.  For a transfer of moneys from the interest for
36   Iowa schools fund to the first in the nation in
37   education foundation, prior to July 1, October 1,
38   January 1, and March 1 of each year, the governing
39   board of the first in the nation in education
40   foundation established in section 257A.2 shall certify
41   to the treasurer of state the cumulative total value
42   of contributions received under section 257A.7 for
43   deposit in the first in the nation in education fund
44   and for the use of the foundation.  The cumulative
45   total value of contributions received includes the
46   value of the amount deposited in the national center
47   endowment fund established in section 263.8A in excess
48   of eight hundred seventy-five thousand dollars.  The
49   value of in-kind contributions shall be based upon the
50   fair market value of the contribution determined for

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

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Last update: Sun Jan 14 21:05:02 CST 1996
URL: /DOCS/GA/76GA/Session.1/HJournal/02100/02198.html
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