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House Journal: Page 1567: Thursday, April 11, 1996

H-5920

 1     Amend House File 570, as amended, passed, and
 2   reprinted by the House, as follows:
 3     1.  By striking everything after the enacting
 4   clause and inserting the following:
 5     "Section 1.  Section 257B.1A, subsections 2 and 3,
 6   Code Supplement 1995, are amended to read as follows:
 7     2.  For a transfer of moneys from the interest for
 8   Iowa schools fund to the first in the nation in
 9   education foundation, prior to July 1, October 1,
10   January 1, and March 1 of each year, the governing
11   board of the first in the nation in education
12   foundation established in section 257A.2 shall certify
13   to the treasurer of state the cumulative total value
14   of contributions received under section 257A.7 for
15   deposit in the first in the nation in education fund
16   and for the use of the foundation.  The cumulative
17   total value of contributions received includes the
18   value of the amount deposited in the national center
19   endowment fund established in section 263.8A in excess
20   of eight hundred seventy-five thousand dollars.  The
21   value of in-kind contributions shall be based upon the
22   fair market value of the contribution determined for
23   income tax purposes.
24     The portion of the interest for Iowa schools fund
25   that is equal to the cumulative total value of
26   contributions, less the portion of the interest for
27   Iowa schools fund dedicated to the national
28   international center for gifted and talented
29   education, is dedicated to the first in the nation in
30   education foundation for that year.  The interest
31   earned on this dedicated amount shall be transferred
32   by the treasurer of state to the credit of the first
33   in the nation in education foundation.
34     3.  For a transfer of moneys from the interest for
35   Iowa schools fund to the national international
center
36   endowment fund established in section 263.8A, prior to
37   July 1, October 1, January 1, and March 1 of each
38   year, the state university of Iowa shall certify to
39   the treasurer of state the cumulative total value of
40   contributions received and deposited in the national
41   international center endowment fund.  Within fifteen
42   days following certification by the state university
43   of Iowa, the treasurer of state shall transfer from
44   the interest for Iowa schools fund to the national
45   international center an amount equal to one-half the
46   cumulative total value of the contributions deposited
47   in the national international center endowment fund,
48   not to exceed eight hundred seventy-five thousand
49   dollars.  In addition, if the cumulative total value
50   of contributions deposited in the international center

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

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Last update: Fri Apr 12 13:30:03 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01500/01567.html
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