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
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