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ID S1041
Bill
Status
4/4/2017
Primary Sponsor
Education Committee
Click for details
AI Summary
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Amends Section 33-907 to add reference to Section 33-1018C as a source for deposits into the Public Education Stabilization Fund.
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Creates new Section 33-1018C requiring the Joint Finance-Appropriations Committee to consider transferring withdrawn amounts back into the Public Education Stabilization Fund as supplemental appropriations for the current fiscal year.
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Maintains the fund's cap at 8.334% of the current fiscal year's total state appropriation for public school support, with excess balances transferred to the bond levy equalization fund.
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Allows the fund to receive moneys through legislative transfers, appropriations, and interest earned from fund investments, with all interest retained in the fund.
Legislative Description
Amends and adds to existing law to provide that moneys may be transferred to the Public Education Stabilization Fund under certain circumstances.
EDUCATION
Last Action
Session Law Chapter 211 Effective: 07/01/2017
4/4/2017