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Senate Study Bill 1060

Bill Text

PAG LIN
  1  1    Section 1.  Section 298.3, subsections 3 and 10, Code 2003,
  1  2 are amended to read as follows:
  1  3    3.  The purchase of buildings and the purchase, lease, or
  1  4 lease-purchase of a single unit of equipment or technology
  1  5 exceeding five hundred dollars in value per unit.
  1  6    10.  Lease-purchase The purchase of buildings or lease-
  1  7 purchase option agreements for school buildings and for
  1  8 equipment exceeding in value five thousand dollars per single
  1  9 unit.
  1 10    Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of
  1 11 immediate importance, takes effect upon enactment.  
  1 12                           EXPLANATION
  1 13    This bill relates to permissible uses for physical plant
  1 14 and equipment levy revenue and eliminates conflicting and
  1 15 duplicative language.
  1 16    Prior to the 2002 Legislative Session, Code section 298.3,
  1 17 subsection 3, provided that physical plant and equipment levy
  1 18 revenue may be expended for the purchase of buildings and the
  1 19 purchase of a single unit of equipment or a technology system
  1 20 exceeding $1,500 in value.  Legislation enacted in 2002
  1 21 changed this subsection, providing for the lease or lease-
  1 22 purchase of a single unit of equipment or technology and
  1 23 lowering the value of the equipment or technology being
  1 24 acquired to exceeding $500.  This change appears to conflict
  1 25 with Code section 298.3, subsection 10, which provides that
  1 26 revenue may be expended for lease-purchase option agreements
  1 27 for school buildings and for equipment exceeding $5,000 per
  1 28 single unit.
  1 29    To eliminate this apparent conflict, the bill places the
  1 30 provisions relating to the acquisition of buildings, and of
  1 31 equipment or technology, into two separate subsections.  Code
  1 32 section 298.3, subsection 3, is modified to remove any
  1 33 reference to the purchase of a building, such that the
  1 34 subsection relates only to the purchase, lease, or lease-
  1 35 purchase of a single unit of equipment or technology exceeding
  2  1 $500 per unit.  Code section 298.3, subsection 10, is modified
  2  2 to remove any reference to equipment or technology or
  2  3 reference to $5,000 per single unit, and add the provision for
  2  4 the purchase of buildings that was removed from subsection 3.
  2  5    The bill takes effect upon enactment.  
  2  6 LSB 1036SC 80
  2  7 rn/sh/8
     

Text: SSB01059                          Text: SSB01061
Text: SSB01000 - SSB01099               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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