Text: S03260 Text: S03262 Text: S03200 - S03299 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 464 as follows: 1 2 #1. Page 24, by inserting after line 23 the 1 3 following: 1 4 "Sec. . NEW SECTION. 256.29 PHYSICAL PLANT 1 5 AND EQUIPMENT LEVY STATE AID PROGRAM APPROPRIATION. 1 6 1. There is appropriated from the general fund of 1 7 the state to the department of education the following 1 8 amounts for the following fiscal years for allocation 1 9 to school districts under the physical plant and 1 10 equipment levy state aid program: 1 11 a. For the fiscal year beginning July 1, 1999, and 1 12 ending June 30, 2000, the sum of ten million dollars. 1 13 b. For the fiscal year beginning July 1, 2000, and 1 14 ending June 30, 2001, the sum of twenty million 1 15 dollars. 1 16 c. For the fiscal year beginning July 1, 2001, and 1 17 ending June 30, 2002, the sum of thirty million 1 18 dollars. 1 19 d. For the fiscal year beginning July 1, 2002, and 1 20 ending June 30, 2003, the sum of forty million 1 21 dollars. 1 22 e. For the fiscal year beginning July 1, 2003, and 1 23 for each succeeding fiscal year, the sum of fifty 1 24 million dollars. 1 25 2. The purpose of the physical plant and equipment 1 26 levy state aid program is to provide a means for Iowa 1 27 schools to reduce their long-term borrowing costs and 1 28 thus reduce costs to taxpayers. A school district 1 29 shall expend funds received pursuant to this section 1 30 for a project as defined in subsection 3. 1 31 3. For purposes of this section, "project" means 1 32 any undertaking by a school district for which 1 33 financing is authorized under chapter 296 or 298, 1 34 including all costs and expenses associated with 1 35 authorization for, and commencement of, a project. 1 36 "School district" means a public school corporation 1 37 organized under chapter 274. 1 38 4. The department shall determine the physical 1 39 plant and equipment levy state aid per pupil by 1 40 multiplying the state cost per pupil by five percent 1 41 minus the district assessed valuation per pupil 1 42 multiplied by thirty-three cents. The total physical 1 43 plant and equipment levy state aid shall be determined 1 44 by multiplying the district's budget enrollment for 1 45 the budget year by the district's physical plant and 1 46 equipment levy state aid per pupil. However, if the 1 47 amount appropriated in subsection 1 for a given year 1 48 is insufficient to provide the full amount of physical 1 49 plant and equipment levy state aid, the amount of 1 50 physical plant and equipment levy state aid allocated 2 1 to each district from the appropriation made in 2 2 subsection 1 shall be equal to the percentage that the 2 3 physical plant and equipment levy state aid for the 2 4 district bears to the total amount of physical plant 2 5 and equipment levy state aid of all districts in the 2 6 state. 2 7 5. For each year in which an appropriation is made 2 8 to the physical plant and equipment levy state aid 2 9 program, the allocation to each school district shall 2 10 be made in one payment on or about October 15 of the 2 11 fiscal year for which the appropriation is made, 2 12 taking into consideration the relative budget and cash 2 13 position of the state resources. Moneys received 2 14 under this section shall not be commingled with state 2 15 aid payments made under section 257.16 to a school 2 16 district and shall be accounted for by the local 2 17 school district separately from state aid payments. 2 18 Payments made to school districts under this section 2 19 are miscellaneous income for purposes of chapter 257." 2 20 #2. By renumbering, relettering, and redesignating 2 21 as necessary. 2 22 2 23 2 24 2 25 MICHAEL E. GRONSTAL 2 26 SF 464.510 78 2 27 kh/jw
Text: S03260 Text: S03262 Text: S03200 - S03299 Text: S Index Bills and Amendments: General Index Bill History: General Index
© 2000 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Fri Mar 3 13:35:02 CST 2000
URL: /DOCS/GA/78GA/Legislation/S/03200/S03261/000303.html
jhf