HB 1257 -- Public School Capital Projects

Sponsor:  Bartle

This bill adds an option for a school district to transfer
moneys from the incidental to the capital projects fund.  To
qualify a district must meet the existing requirements for 18-
and 6-cent transfers, and must have (1)  bonded indebtedness of
at least 80% of the constitutional limit; (2)  an average annual
increase of 3% in daily attendance over the last 3 school years;
(3)  met certificated salary compliance ratios or paid all
penalties for being out of compliance for the preceding 3 years;
(4)  an ending balance in the combined teachers' and incidental
funds of no more than 15% of combined expenditures for the
preceding school year; and (5)  a levy no less than the lesser
of $2.75 or the district's tax rate ceiling.  Qualifying
districts may transfer an amount equal to 12% of the adjusted
operating levy multiplied by the guaranteed tax base per
eligible pupil for the second preceding year multiplied by the
number of resident and nonresident eligible pupils from the
second preceding year.  Allowable transportation equipment
expenditures and obligations for vocational-technical school
capital projects (minus amounts already transferred for this
purpose) are added to this total, and amounts expended from the
incidental fund for classroom instructional capital outlay are
subtracted.