Senate File 510 H-1367 Amend the amendment, H-1365, to Senate File 510, 1 as amended, passed, and reprinted by the Senate, as 2 follows: 3 1. Page 6, before line 8 by inserting: 4 < DIVISION ___ 5 DISTRICT COST PER PUPIL BUDGET ADJUSTMENT 6 Sec. ___. Section 257.2, subsection 2, Code 2015, 7 is amended by striking the subsection. 8 Sec. ___. NEW SECTION . 257.14A District cost 9 per pupil equity —— budget adjustment —— budget year 10 2015-2016. 11 1. The board of directors of a school district 12 that has a cash reserve balance on July 1, 2015, 13 that exceeds an amount equal to five percent of the 14 district’s general fund expenditures for the year 15 previous to the base year and with a regular program 16 district cost per pupil for the budget year beginning 17 July 1, 2015, that is less than the highest regular 18 program district cost per pupil among all school 19 districts in the state for the budget year beginning 20 July 1, 2015, that wishes to receive the budget 21 adjustment under this section shall adopt a resolution 22 within thirty days after the effective date of this 23 division of this Act, and shall notify the department 24 of management of the adoption of the resolution and the 25 amount of the budget adjustment to be received. 26 2. a. For the budget year beginning July 1, 2015, 27 each school district that satisfies the requirements of 28 subsection 1 shall be eligible for a budget adjustment 29 for that budget year in an amount not to exceed the 30 difference between the school district’s regular 31 program district cost per pupil and the highest regular 32 program district cost per pupil among all school 33 districts in the state multiplied by the district’s 34 budget enrollment. The resolution adopted under 35 subsection 1 may specify a budget adjustment amount 36 that is equal to or less than the maximum amount 37 authorized under this paragraph “a” . 38 b. The school district shall fund the budget 39 adjustment increase either by using moneys from its 40 unexpended fund balance or by using cash reserve 41 moneys. However, the cash reserve levy under section 42 298.10 or any other property tax levy of the school 43 district shall not be increased for the budget year 44 beginning July 1, 2015, to offset or replace the moneys 45 used to fund the budget adjustment under this section. 46 3. A budget adjustment received under this section 47 shall not affect the eligibility for or amount of any 48 other budget adjustment authorized by law for the same 49 budget year. In addition, a budget adjustment under 50 -1- H1365.2080 (3) 86 md/sc 1/ 2 #1.

this section shall be limited to the budget year for 1 which the adjustment was authorized and shall not be 2 included in any computation of a school district’s cost 3 for any future budget year. 4 Sec. ___. Section 257.34, Code 2015, is amended to 5 read as follows: 6 257.34 Cash reserve information. 7 1. If a school district receives less state school 8 foundation aid under section 257.1 than is due under 9 that section for a base year and the school district 10 uses funds from its cash reserve during the base year 11 to make up for the amount of state aid not paid, the 12 board of directors of the school district shall include 13 in its general fund budget document information about 14 the amount of the cash reserve used to replace state 15 school foundation aid not paid. 16 2. If a school district uses funds from its cash 17 reserve to fund a budget adjustment authorized under 18 section 257.14A, the board of directors of the school 19 district shall include in its general fund budget 20 document information about the amount of the cash 21 reserve used for such purpose. 22 Sec. ___. Section 298.10, subsection 3, Code 2015, 23 is amended to read as follows: 24 3. a. For Except as provided in paragraph “b” , for 25 fiscal years beginning on or after July 1, 2012, the 26 cash reserve levy for a budget year shall not exceed 27 twenty percent of the general fund expenditures for the 28 year previous to the base year minus the unexpended 29 fund balance, as defined in section 257.2 , for the year 30 previous to the base year. 31 b. For the fiscal year beginning July 1, 2015, the 32 cash reserve levy for a school district that received 33 a budget adjustment under section 257.14A shall not 34 exceed the lesser of the amount determined under 35 paragraph “a” and an amount equal to the amount levied 36 under this section for the year previous to the base 37 year, excluding any amount levied to fund a modified 38 supplemental amount established under section 257.31, 39 minus the amount of cash reserve moneys used to fund a 40 budget adjustment under section 257.14A. 41 Sec. ___. EFFECTIVE UPON ENACTMENT. This division 42 of this Act, being deemed of immediate importance, 43 takes effect upon enactment. > 44 2. By renumbering as necessary. 45 ______________________________ PAUSTIAN of Scott -2- H1365.2080 (3) 86 md/sc 2/ 2 #2.