S.F. 2017 Section 1. Section 423F.2, Code 2016, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 2A. For each fiscal year beginning on 3 or after July 1, 2016, but before July 1, 2029, there is 4 appropriated from the general fund of the state to the secure 5 an advanced vision for education fund five million dollars. 6 The appropriation required under this subsection shall be in 7 addition to the amount transferred to the secure an advanced 8 vision for education fund under section 423.2, subsection 11, 9 paragraph “b” , subparagraph (3). 10 EXPLANATION 11 The inclusion of this explanation does not constitute agreement with 12 the explanation’s substance by the members of the general assembly. 13 Following other required transfers, current Code section 14 423.2 requires one-sixth of the revenues collected as 15 the result of the 6 percent state sales and use tax to be 16 transferred to the secure an advanced vision for education 17 (SAVE) fund created in Code section 423F.2, until that fund 18 is repealed on December 31, 2029. Moneys deposited in the 19 SAVE fund are distributed by the department of revenue to each 20 school district on a per pupil basis to be used for specified 21 school infrastructure and property tax reduction purposes. 22 For each fiscal year beginning on or after July 1, 2016, but 23 before July 1, 2029, this bill appropriates from the general 24 fund of the state to the SAVE fund $5 million. The annual $5 25 million appropriation required under the bill is in addition 26 to the amount otherwise required to be transferred to the SAVE 27 fund under Code section 423.2. 28 -1- LSB 5092XS (4) 86 md/tm 1/ 1