FIRST REGULAR SESSION
HOUSE BILL NO. 325
91ST GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE MARBLE.
Read 1st time January 10, 2001, and 1000 copies ordered printed.
TED WEDEL, Chief Clerk
AN ACT
To amend chapter 165, RSMo, by adding thereto one new section relating to approved uses for school bond moneys.
Section A. Chapter 165, RSMo, is amended by adding thereto one new section, to be known as section 165.017, to read as follows:
165.017. Notwithstanding the provisions of section 165.016 or any other provision of law to the contrary, for any school bond issue passed after August 28, 2001, an amount less than or equal to twenty-five percent of the amount approved by any such bond issue shall be exempt from the provisions in section 165.016 which mandate certain levels of expenditure for tuition, teacher retirement and compensation of certificated staff. Upon passage of the bond issue, each district shall have the right to claim this exemption, and to declare the percentage of the exemption it will use, not to exceed twenty-five percent. If the exemption is claimed, the exempted amount shall:
(1) Be transferred to the capital projects fund of the district solely for use on capital projects; and
(2) Come either directly from the approved bond moneys or from a transfer, in an amount equal to the percentage
determined by the board pursuant to this section, from the incidental fund to the capital projects
fund.
Missouri House of
Representatives