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