HF 2395 (LSB 5708YH (6) 83)

HOUSE FILE 2395

BY  PETTENGILL

A BILL FOR

An Act allowing a school district to use remaining market factor teacher incentive funds to be transferred to the district’s general fund and used for general fund purposes and including effective date provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  MARKET FACTOR TEACHER INCENTIVES —— FUNDS TRANSFER.  Notwithstanding any provisions to the contrary, any remaining allocations paid to a school district for market factor teacher incentives pursuant to section 284.11, Code Supplement 2007, prior to the school budget year beginning July 1, 2009, and which are maintained in a separate listing within a school district’s budget shall be transferred by the district into the school district’s general fund to be used for general fund purposes beginning with school budget years beginning on or after July 1, 2009.
    Sec. 2.  EFFECTIVE UPON ENACTMENT.  This Act, being deemed of immediate importance, takes effect upon enactment.
EXPLANATION
   This bill allows a school district with any remaining funds in its budget that were only authorized to be spent for market factor teacher incentives to transfer the funds to the district’s general fund and use the funds for general fund purposes beginning with school budget years beginning on or after July 1, 2009.
   The bill is effective upon enactment.