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Senate File 2276

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 8.54, subsection 1, unnumbered
  1  2 paragraph 1, Code Supplement 2001, is amended to read as
  1  3 follows:
  1  4    For the purposes of section 8.22A, this section, and
  1  5 sections 8.55 through 8.57 8.57B:
  1  6    Sec. 2.  Section 8.54, subsection 5, Code Supplement 2001,
  1  7 is amended by striking the subsection.
  1  8    Sec. 3.  Section 8.55, subsection 2, Code Supplement 2001,
  1  9 is amended to read as follows:
  1 10    2.  The maximum balance of the fund is the amount equal to
  1 11 five percent of the adjusted revenue estimate for the fiscal
  1 12 year.  If the amount of moneys in the Iowa economic emergency
  1 13 fund is equal to the maximum balance, moneys in excess of this
  1 14 amount shall be transferred to the general fund early
  1 15 childhood programs endowment fund created in section 8.57B.
  1 16    Sec. 4.  NEW SECTION.  8.57B  EARLY CHILDHOOD PROGRAMS
  1 17 ENDOWMENT FUND.
  1 18    1.  The early childhood programs endowment fund is created.
  1 19 The fund shall be separate from the general fund of the state
  1 20 and the balance in the fund shall not be considered part of
  1 21 the balance of the general fund of the state.  Notwithstanding
  1 22 section 12C.7, subsection 2, interest or earnings on moneys
  1 23 deposited in the fund shall be credited to the fund.  The
  1 24 moneys credited to the fund are not subject to section 8.33
  1 25 and shall not be transferred, used, obligated, appropriated,
  1 26 or otherwise encumbered except as provided in this section.
  1 27    2.  a.  Except as provided in paragraph "b", the interest
  1 28 and earnings on moneys in the early childhood programs
  1 29 endowment fund shall only be used pursuant to an annual
  1 30 appropriation made by the general assembly for purposes of
  1 31 enhancing preschool and early education programs for young
  1 32 children and their families.  Otherwise, moneys credited to
  1 33 the early childhood programs endowment fund are not subject to
  1 34 appropriation unless the bill or joint resolution making the
  1 35 appropriation complies with all of the following requirements:
  2  1    (1)  The appropriation is contained in a bill or joint
  2  2 resolution in which the appropriation is the only subject
  2  3 matter of the bill or joint resolution.
  2  4    (2)  The bill or joint resolution states the reasons the
  2  5 appropriation is necessary.
  2  6    (3)  The bill or joint resolution is approved by vote of at
  2  7 least three-fifths of the members of both chambers of the
  2  8 general assembly and is signed by the governor.
  2  9    b.  Moneys in the fund may be used for cash flow purposes
  2 10 during a fiscal year provided that any moneys so allocated are
  2 11 returned to the fund by the end of that fiscal year.
  2 12    c.  Except as provided in section 8.58, the early childhood
  2 13 programs endowment fund shall be considered a special account
  2 14 for the purposes of section 8.53 in determining the cash
  2 15 position of the general fund of the state for the payment of
  2 16 state obligations.
  2 17    Sec. 5.  Section 8.58, Code 2001, is amended to read as
  2 18 follows:
  2 19    8.58  EXEMPTION FROM AUTOMATIC APPLICATION.
  2 20    To the extent that moneys appropriated under section 8.57
  2 21 or transferred to the early childhood programs endowment fund
  2 22 under section 8.55, subsection 2, do not result in moneys
  2 23 being credited to the general fund under section 8.55,
  2 24 subsection 2, moneys appropriated under section 8.57 and
  2 25 moneys contained in the cash reserve fund, rebuild Iowa
  2 26 infrastructure fund, environment first fund, early childhood
  2 27 programs endowment fund, and Iowa economic emergency fund
  2 28 shall not be considered in the application of any formula,
  2 29 index, or other statutory triggering mechanism which would
  2 30 affect appropriations, payments, or taxation rates, contrary
  2 31 provisions of the Code notwithstanding.
  2 32    To the extent that moneys appropriated under section 8.57
  2 33 or transferred to the early childhood programs endowment fund
  2 34 do not result in moneys being credited to the general fund
  2 35 under section 8.55, subsection 2, moneys appropriated under
  3  1 section 8.57 and moneys contained in the cash reserve fund,
  3  2 rebuild Iowa infrastructure fund, environment first fund,
  3  3 early childhood programs endowment fund, and Iowa economic
  3  4 emergency fund shall not be considered by an arbitrator or in
  3  5 negotiations under chapter 20.  
  3  6                           EXPLANATION
  3  7    This bill creates an early childhood programs endowment
  3  8 fund in the state treasury.
  3  9    Moneys remaining at the close of the fiscal year, after
  3 10 both the cash reserve fund and the Iowa economic emergency
  3 11 fund have achieved their maximum balances, are credited to the
  3 12 endowment fund.
  3 13    Moneys in the endowment fund may be used for cash flow
  3 14 purposes, provided the moneys are returned to the fund by the
  3 15 end of the fiscal year.  The interest and earnings on the fund
  3 16 can only be used through an annual appropriation for purposes
  3 17 of enhancing preschool and early education programs for young
  3 18 children and their families.  Otherwise, other moneys in the
  3 19 fund are not subject to appropriation unless the appropriation
  3 20 meets all of these conditions:  the appropriation is the only
  3 21 subject of the bill or joint resolution making the
  3 22 appropriation, the reasons the appropriation is necessary are
  3 23 stated, and at least three-fifths of the members of both
  3 24 chambers of the general assembly vote for approval and the
  3 25 bill or joint resolution is approved by the governor.
  3 26    The bill includes conforming changes in Code section 8.54
  3 27 to strike the transfer of general fund ending balance moneys
  3 28 back to the general fund once the cash reserve and Iowa
  3 29 economic emergency funds have achieved their maximum balance,
  3 30 and to provide in Code section 8.58, the endowment fund moneys
  3 31 are not considered in any formula or other statutory
  3 32 triggering mechanism or in collective bargaining negotiations
  3 33 or arbitration.  
  3 34 LSB 5543XS 79
  3 35 jp/cls/14.1
     

Text: SF02275                           Text: SF02277
Text: SF02200 - SF02299                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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