MADAM PRESIDENT:
I move
that Engrossed House Bill 1234 be amended to read as follows:
Delete the title and insert the following:
A BILL FOR AN ACT to amend the Indiana Code concerning
education and to make an appropriation.
reinvestment of the common school fund and shall be liberally
construed to carry out the purposes of the Constitution of the
State of Indiana.
(c) In addition, the common school fund may be used to make
advances under IC 21-1-5.1.
school corporations, money shall be awarded in the following order
until the amount available for advances under section 9 of this
chapter is exhausted:
(1) The amounts determined under subsection (b).
(2) The amounts determined under subsection (c).
(3) The amounts determined under subsection (d).
(b) The department shall first award advances for full day
kindergarten in the amount determined under STEP FIVE of the
following formula:
STEP ONE: For each school that received state funding for
full day kindergarten in the immediately previous school
year, determine the number of eligible students enrolled in
the current school year in the school.
STEP TWO: For each school described in STEP ONE, multiply
the number determined under STEP ONE by the amount of
the advance determined under section 7 of this chapter.
STEP THREE: Rank each school described in STEP ONE by
the percentage of eligible students eligible for a free or
reduced school lunch program, with the school with the
highest percentage ranked first and the school with the
lowest percentage ranked last.
STEP FOUR: Beginning with the school ranked first under
STEP THREE and proceeding through the school ranked last
under STEP THREE, allocate the lesser of the following to
each school:
(A) The amount determined for the school under STEP
TWO.
(B) The amount remaining from the amounts available for
full day kindergarten advances after allocating money to
each school with a higher ranking under STEP THREE.
STEP FIVE: Distribute to each school corporation the sum of
the amounts allocated under STEP FOUR for each school in
the school corporation.
(c) If the amount available for full day kindergarten advances
has a balance after making all of the distributions required under
subsection (b), advances shall be made in the amount determined
under STEP FIVE of the following formula:
STEP ONE: For each Title I school that did not receive state
funding for full day kindergarten in the immediately
previous school year, determine the number of eligible
students enrolled in the current school year.
STEP TWO: For each school described in STEP ONE, multiply
the number determined under STEP ONE by the amount of
the advance determined under section 7 of this chapter.
if repayment is not made in conformity with the terms of the
agreement.
Sec. 17. An agreement for an advance for a full day
kindergarten program must prohibit the imposition of a fee for
students who participate in the program and qualify for a free or
reduced lunch program.
Sec. 18. The department shall:
(1) provide for the distribution of the approved amount of an
advance; and
(2) administer and enforce the agreement made with the
recipient.
Sec. 19. Distributions of advances under this chapter shall be
made at the time and in the manner prescribed by the
department.
Sec. 20. (a) The early learning fund is established. The early
learning fund shall be administered by the department.
(b) The treasurer of state shall invest money in the early
learning fund not currently needed to meet the obligations of the
early learning fund in the same manner as other public money
may be invested. Interest that accrues from these investments
shall be deposited in the early learning fund.
(c) Money in the early learning fund is annually appropriated
for the purposes of the early learning fund.
(d) Money in the early learning fund at the end of a state fiscal
year does not revert to the state general fund.
Sec. 21. The department shall establish a program to make
grants from the early learning fund after June 30, 2005, to school
corporations that receive an advance under this chapter for the
purpose of repaying the amount of the advance or advances made
to the school corporation under this chapter from the common
school fund.
Sec. 22. Grants shall be made at the times and in the manner
specified in the agreements made with the recipients of advances
under this chapter. Subject to the availability of money in the
early learning fund, grants shall be made in the amounts
necessary for a school corporation to comply with the repayment
schedule imposed under the agreement entered into by the school
corporation under this chapter.
Sec. 23. The department shall withhold the amount of the
grants due to the school corporation to reimburse the common
school fund for the advance or advances made to the school
corporation and reduce the amount owed by the school corporation
by the amount withheld.
19, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1,
2004]: Sec. 34. (a) Except as provided in section 42(d) of this chapter,
the treasurer of state shall, on order of the attorney general, pay the
necessary costs of the following:
(1) Selling abandoned property.
(2) Mailing notices.
(3) Making publications required by this chapter.
(4) Paying other operating expenses and administrative expenses,
including:
(A) salaries and wages reasonably incurred by the attorney
general in the administration and enforcement of this chapter;
and
(B) costs incurred in examining records of the holders of
property and in collecting the property from the holders.
(b) If the balance of the principal of the abandoned property fund
established by section 33 of this chapter exceeds five hundred thousand
dollars ($500,000), the treasurer of state:
(1) shall, after June 30, 2005, transfer in each state fiscal
year the lesser of:
(A) the balance in the fund exceeding five hundred
thousand dollars ($500,000); or
(B) twenty-five million dollars ($25,000,000);
from the abandoned property fund to the early learning fund
established under IC 21-1-31 in quarterly installments; and
(2) may, and at least once each state fiscal year, shall, transfer to
the common school fund of the state the balance of the principal
of the abandoned property fund that exceeds the sum of the
amount transferred under subdivision (1) and five hundred
thousand dollars ($500,000).
(c) If a claim is allowed or a refund is ordered under this chapter
that is more than five hundred thousand dollars ($500,000), the
treasurer of state shall transfer from the state general fund sufficient
money to make prompt payment of the claim. There is annually
appropriated to the treasurer of state from the state general fund the
amount of money sufficient to implement this subsection.
(d) Before making a deposit into the abandoned property fund, the
attorney general shall record the following:
(1) The name and last known address of each person appearing
from the holder's reports to be entitled to the abandoned property.
(2) The name and last known address of each insured person or
annuitant.
(3) The number, the name of the corporation, and the amount due
concerning any policy or contract listed in the report of a life
insurance company.
(e) Except as provided in subsection (f), earnings on the property
custody fund and the abandoned property fund shall be credited to each
fund.
(f) On July 1 of each year, the interest balance in the property
custody fund established by section 32 of this chapter and the interest
balance in the abandoned property fund shall be transferred to the state
general fund.