Amendment H-8274 to HF 2643
Relating to state and local finances by making appropriations, providing for legal and regulatory responsibilities, providing for other properly related matters, and including effective date and retroactive applicability provisions
Adopted · June 12, 2020
Filed June 11, 2020 in the House by
What it changes
- Page 5, after line 13 by inserting: “Sec. ___. Section 261.20, subsection 2, Code 2020, is amended to read as follows:
- The maximum balance of the scholarship and tuition grant reserve fund is an amount equal to one two percent of the funds appropriated to the scholarship and tuition grant programs under section 261.25 during the preceding fiscal year. The moneys in the fund shall be placed in separate accounts within the fund, according to the source and purpose of the original appropriation. Moneys in the various accounts shall only be used to alleviate a current fiscal year shortfall in appropriations for scholarship or tuition grant programs that have the same nature as the programs for which the moneys were originally appropriated. At the conclusion of a fiscal year, any surplus appropriations made to the commission for scholarship or tuition grant programs are appropriated to the scholarship and grant reserve fund in an amount equal to the amount of the surplus or the amount necessary to achieve the maximum balance, whichever amount is less.”
- By renumbering as necessary.