HB 1521 -- Classroom Trust Fund

Sponsor:  Shields

Currently, excursion gambling boat proceeds beyond the amount
transferred to the School District Bond Fund are directed to the
State School Moneys Fund to be distributed through the foundation
formula.  Under this bill, certain amounts of these moneys will
be transferred from the Gaming Proceeds for Education Fund to the
newly created Classroom Trust Fund to fund school construction,
teacher recruitment and professional development, technology
enhancements, and school safety.  The transfers beginning with
Fiscal Year 2004 will occur for five years in increasing
increments of 20%.  The moneys in the Classroom Trust Fund will
be distributed to each district on a per-eligible-pupil basis and
are exempt from certificated salary compliance.  General revenue
must replace the gaming funds that had been directed toward the
State School Moneys Fund.  The Classroom Trust Fund will also
receive all unclaimed lottery prize money.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:01 am