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House Journal: Page 2199: Tuesday, May 2, 1995

Page 18

 1   income tax purposes.
 2     The portion of the interest in Iowa schools fund
 3   that is equal to the cumulative total value of
 4   contributions, less the portion of the interest in
 5   Iowa schools fund dedicated to the national center for
 6   gifted and talented education, is dedicated to the
 7   first in the nation in education foundation for that
 8   year.  The interest earned on this dedicated amount
 9   shall be transferred by the treasurer of state to the
10   credit of the first in the nation in education
11   foundation.
12     3.  For a transfer of moneys from the interest in
13   Iowa schools fund to the national center endowment
14   fund established in section 263.8A, prior to July 1,
15   October 1, January 1, and March 1 of each year, the
16   state university of Iowa shall certify to the
17   treasurer of state the cumulative total value of
18   contributions received and deposited in the national
19   center endowment fund.  Within fifteen days following
20   certification by the state university of Iowa, the
21   treasurer of state shall transfer from the interest in
22   Iowa schools fund to the national center an amount
23   equal to one-half the cumulative total value of the
24   contributions deposited in the national center
25   endowment fund, not to exceed eight hundred seventy-
26   five thousand dollars.
27     Sec. 20.  NEW SECTION.  260C.24  PAYMENT OF
28   APPROPRIATION.
29     Payment of appropriations for distribution under
30   this chapter or of appropriations made in lieu of such
31   appropriations, shall be made by the department of
32   revenue and finance in monthly installments due on or
33   about the fifteenth of each month of a budget year,
34   and installments shall be as nearly equal as possible,
35   as determined by the department of revenue and
36   finance, taking into consideration the relative budget
37   and cash position of the state resources.
38     Sec. 21.  NEW SECTION.  260C.29  CAREER OPPORTUNITY
39   PROGRAM -- MISSION.
40     1.  The mission of the career opportunity program
41   established in this section is to encourage
42   collaborative efforts by a community college, the
43   institutions under the control of the state board of
44   regents, and business and industry to enhance the
45   educational opportunities and provide for job creation
46   and career advancement for Iowa's minority persons by
47   providing assistance to minority persons who major in
48   fields or subject areas where minorities are currently
49   underrepresented or underutilized.
50     2.  A career opportunity program is established to

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