Text: SF02275 Text: SF02277 Text: SF02200 - SF02299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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 through8.578.57B: 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 thegeneral fundearly 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 fundunder section 8.55,2 24subsection 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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