S.F. 419 Section 1. Section 298A.8, Code 2011, is amended to read as 1 follows: 2 298A.8 Student activity fund. 3 1. The student activity fund is a special revenue fund. 4 A student activity fund must be established in any school 5 corporation receiving money from student-related activities 6 such as admissions, activity fees, student dues, student 7 fund-raising events, or other student-related cocurricular or 8 extracurricular activities. Moneys in this fund , other than 9 funds in a philanthropy account established under subsection 2, 10 shall be used to support only the cocurricular program defined 11 in department of education administrative rules. 12 2. For the purpose of educating students on the importance 13 of charitable and philanthropic activities, a philanthropy 14 account may be established within a student activity fund. A 15 philanthropy account shall only consist of voluntary donations 16 raised by the students or school district employees for a 17 specified philanthropic purpose. Moneys raised by the students 18 or school district employees under this subsection shall be 19 held in trust by the school corporation for such students or 20 employees and shall not be considered public moneys. Moneys 21 in the account shall be used to support the philanthropic 22 purpose for which the moneys were raised. For purposes of 23 this section, “philanthropic purpose” means an educational, 24 charitable, humane, scientific, patriotic, social welfare or 25 advocacy, public health, environmental, conservation, civic, 26 or other similar objective defined in department of education 27 rules. The philanthropic purposes for which moneys in the 28 account may be used shall not be limited to purposes relating 29 to the school or to students enrolled in the school. 30 -1- SF 419 (3) 84 md/sc 1/ 1