Text: S03260                            Text: S03262
Text: S03200 - S03299                   Text: S Index
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Senate Amendment 3261

Amendment Text

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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