that Senate Bill 454 be amended to read as follows:
Page 7, between lines 14 and 15, begin a new paragraph and insert:
"SECTION 7. IC 21-2-11-6 , AS AMENDED BY P.L.77-1999, SECTION 6, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 6.
(a) Moneys received by any school corporation
for a specific purpose or purposes, by gift, endowment or pursuant to
any federal statute, may be accounted for by establishing separate
funds, separate and apart from the general fund, if no local tax funds
are involved. However, no such funds shall be accepted unless the
terms of the gift, endowment or payment, and the acceptance thereof,
are so stated that the officers of the school corporation are not divested
of any right or authority which they now have or may hereafter be
granted by law. Such moneys so received for specific purposes, and any
earnings thereon, may be disbursed without appropriation.
(b) Except as otherwise provided by federal law, all money received
by the school corporation by grant, gift, endowment, or under federal
law for any of the purposes described in IC
deposited in the school technology fund established under IC
SECTION 8. IC 21-2-18-2 , AS ADDED BY P.L.77-1999, SECTION 9, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 2. Each school corporation shall establish a school technology fund. The fund consists of
(1) money transferred to the fund under IC 20-5-62-6,
IC 21-2-11-6.5, and other monies as designated by the
department of education.
(2) any other money received by the school corporation for a
purpose described in IC
, or IC
However, property taxes levied by a school corporation for a capital projects fund shall not be transferred to the fund.".
Renumber all SECTIONS consecutively.
(Reference is to SB 454 as printed February 16, 2001.)