HB 725 -- TRANSFERS OF FUNDS IN CERTAIN SCHOOL DISTRICTS

SPONSOR:  Britt

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Education-Elementary and Secondary by a vote of 24 to 0.

This bill permits a school district that has experienced a 20%
increase in one year in assessed valuation attributable to
construction of a power plant to make a one-time transfer of
incidental fund moneys to the Capital Projects Fund of twice the
amount normally permitted by statute by the end of the second
fiscal year after the increase became effective.  Campbell
School District is the only district known to meet these
qualifications.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that because of the construction of
a power plant, the district's assessed valuation increased
dramatically, so that a one-year windfall is currently placed in
an operational fund and cannot be used for capital purposes.
The district has supported teacher salaries and bond levies and
would like to be able to make a one-time transfer of these
moneys for repair of an elementary school.

Testifying for the bill were Representative Britt; Jerry Noble,
superintendent, and Mary Lou Hill, teacher, from Campbell R-II
School District; Missouri State Teachers Association; Missouri
School Board Association; and Missouri National Education
Association.

OPPONENTS:  There was no opposition voiced to the committee.

Becky DeNeve, Senior Legislative Analyst

Missouri House of Representatives
Last Updated November 26, 2001 at 11:45 am