Bill Text: IA HF2136 | 2017-2018 | 87th General Assembly | Introduced

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Bill Title: A bill for an act relating to school district spending authority by establishing a district cash reserve budget adjustment.

Spectrum: Partisan Bill (Republican 9-0)

Status: (Introduced - Dead) 2018-02-01 - Subcommittee: Gassman, Dolecheck and R. Smith. H.J. 191. [HF2136 Detail]

Download: Iowa-2017-HF2136-Introduced.html

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House File 2136 - Introduced




                                 HOUSE FILE       
                                 BY  SHEETS, HEARTSILL,
                                     WHEELER, MAXWELL,
                                     SALMON, DOLECHECK,
                                     LANDON, HAGER, and
                                     GASSMAN

                                      A BILL FOR

  1 An Act relating to school district spending authority by
  2    establishing a district cash reserve budget adjustment.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
    TLSB 5610HH (3) 87
    md/jh

PAG LIN



  1  1    Section 1.  Section 257.2, subsection 2, Code 2018, is
  1  2 amended by striking the subsection.
  1  3    Sec. 2.  NEW SECTION.  257.14A  District cash reserve budget
  1  4 adjustment.
  1  5    1.  The board of directors of a school district that wishes
  1  6 to receive the budget adjustment under this section shall
  1  7 adopt a resolution by May 15 preceding the budget year and
  1  8 shall within ten days of adoption of the resolution notify the
  1  9 department of management of the adoption of the resolution and
  1 10 the amount of the budget adjustment to be received, subject to
  1 11 the limitations of subsection 2.
  1 12    2.  a.  For budget years beginning on or after July 1,
  1 13 2019, each school district for which a resolution is adopted
  1 14 under subsection 1 shall receive a budget adjustment for that
  1 15 budget year in an amount not to exceed an amount equal to
  1 16 the district's budget enrollment multiplied by the quotient
  1 17 obtained by the department of management by dividing the sum
  1 18 of the maximum amount of the cash reserve levy available to
  1 19 each school district in the state as determined under section
  1 20 298.10, subsection 3, for the budget year, by the statewide
  1 21 total budget enrollment for the base year.
  1 22    b.  The resolution adopted under subsection 1 may specify a
  1 23 budget adjustment amount that is less than the maximum amount
  1 24 authorized under paragraph "a".
  1 25    c.  The school district shall fund the budget adjustment
  1 26 increase either by using moneys from its unexpended fund
  1 27 balance or by using cash reserve moneys subject to the
  1 28 limitation in section 298.10.
  1 29    3.  A budget adjustment received under this section shall
  1 30 not affect the eligibility for or amount of any other budget
  1 31 adjustment authorized by law for the same budget year. In
  1 32 addition, a budget adjustment under this section shall be
  1 33 limited to the budget year for which the adjustment was
  1 34 authorized and shall not be included in any computation of a
  1 35 school district's cost for any future budget year.
  2  1                           EXPLANATION
  2  2 The inclusion of this explanation does not constitute agreement with
  2  3 the explanation's substance by the members of the general assembly.
  2  4    This bill establishes a district cash reserve budget
  2  5 adjustment. The board of directors of a school district that
  2  6 wishes to receive the budget adjustment under the bill shall
  2  7 adopt a resolution by May 15 preceding the budget year and
  2  8 shall notify the department of management of the adoption of
  2  9 the resolution and the amount of the budget adjustment to be
  2 10 received.
  2 11    For budget years beginning on or after July 1, 2019,
  2 12 each school district that adopts the required resolution
  2 13 shall receive a budget adjustment for that budget year in an
  2 14 amount not to exceed an amount equal to the district's budget
  2 15 enrollment multiplied by the quotient obtained by dividing the
  2 16 sum of the maximum amount of the cash reserve levy available
  2 17 to each school district in the state as determined under Code
  2 18 section 298.10(3) for the budget year, by the statewide total
  2 19 budget enrollment for the base year.
  2 20    The bill provides that the budget adjustment resolution
  2 21 may specify a budget adjustment amount that is less than the
  2 22 maximum amount authorized in the bill.  The school district
  2 23 is required to fund the budget adjustment increase either by
  2 24 using moneys from its unexpended fund balance or by using cash
  2 25 reserve moneys subject to the cash reserve levy limitation in
  2 26 Code section 298.10.
  2 27    The bill specifies that the budget adjustment received does
  2 28 not affect the eligibility for or amount of any other budget
  2 29 adjustment authorized by law for the same budget year and that
  2 30 the budget adjustment under the bill is limited to the budget
  2 31 year for which the adjustment was authorized and shall not be
  2 32 included in any computation of a school district's cost for any
  2 33 future budget year.
       LSB 5610HH (3) 87
       md/jh