HB968 - SCHOOLS' CAPITAL PROJECTS FUND - Lakin, Scott
HB968 CLARIFIES TRANSFERS TO CAPITAL PROJECTS FUNDS.
Sponsor: Lakin, Scott (33) Effective Date: 00/00/00
CoSponsor: LR Number: 2156-01
Last Action: COMMITTEE: EDUCATION - ELEMENTARY AND SECONDARY
01/12/96 - Public Hearing Held (H)
HB968
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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Available Bill Summaries for HB968
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Available Bill Text for HB968
| Introduced |

Available Fiscal Notes for HB968

BILL SUMMARIES

INTRODUCED

HB 968 -- Schools' Capital Projects Fund

Sponsor:  Lakin

Under current law, school districts are required to set a levy
in the capital projects fund as necessary to meet all
expenditures of that fund.  This levy must be established prior
to setting levies in the teachers and incidental funds and
making certain permissible transfers from those funds to the
capital projects fund.  This requirement effectively prevents
school districts from placing any new voter approved levy
increases in the teachers and incidental funds until the new
levy is sufficient to satisfy expenses of the capital projects
fund without transfers.  The levies in the teachers and
incidental funds are used in calculation of state aid from the
foundation formula which, in turn, rewards districts that
increase levies.

The bill permits school districts to set their capital projects
levies after making transfers permitted under current law.
Therefore, any portion of a new voter approved levy not needed
to satisfy expenditures of the capital projects fund above those
met by the transfers may be placed in the teachers and
incidental funds where it is used in the calculation of state
aid.


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Last Updated October 30, 1996 at 10:33 am