SOURCE: Page 2, line 20; (06)CR100601.2. -->
Page 2, line 20, delete "trusts." and insert "
trusts, subject to the
following:".
Page 2, between lines 20 and 21, begin a new line double block
indented and insert:
"
(A) School corporations that elect to pool assets for
coverage must create a trust for the assets. The trust is
subject to regulation by the department of insurance as
follows:
(i) The trust must register with the department of
insurance.
(ii) The trust shall obtain stop-loss insurance issued by an
insurer authorized to do business with an aggregate
retention of not more than one hundred twenty-five
percent (125%) of the amount of expected claims for the
following year.
(iii) Contributions by the school corporations must be set
to fund one hundred percent (100%) of the aggregate
retention plus all other costs of the trust.
(iv) The trust shall maintain a fidelity bond in an amount
approved by the department of insurance, covering each
person responsible for the trust, to protect against acts of
fraud or dishonesty in servicing the trust.
(v) The trust is subject to IC 27-4-1-4.5 regarding claims
settlement practices.
(vi) The trust shall file an annual financial statement in
the form required by IC 27-1-3-13 by March 1.
(vii) The trust is not covered by the Indiana insurance
guaranty fund created under IC 27-6-8. The liability of
each school corporation is joint and several.
(viii) The trust is subject to examination by the
department of insurance. All costs associated with an
examination shall be borne by the trust.
(ix) The department of insurance may deny, suspend, or
revoke the registration of a trust if the commissioner
finds that the trust is in a hazardous financial condition,
the trust refuses to be examined or produce records for
examination, or the trust has failed to pay a final
judgment rendered against the trust by a court within
thirty (30) days.
(B) The department of insurance may adopt rules under
IC 4-22-2 to implement this subdivision.
(2) Each school corporation, and more than one (1) school
corporation acting jointly, may elect to be considered a single
purchaser of natural gas energy by the school corporation's or
school corporations' natural gas utility provider to qualify to
purchase natural gas from any available natural gas seller. A
rate schedule that is:
(A) filed by a natural gas utility; and
(B) approved by the Indiana utility regulatory commission;
must include provisions that allow a school corporation or
school corporations acting jointly to elect to be billed as a
single purchaser of natural gas energy under reasonable terms
and conditions.".
Page 2, line 21, delete "(2)" and insert "
(3)".
Page 2, delete lines 26 through 28.
Page 2, line 29, delete "(D)" and insert "
(C)".
Page 2, line 30, delete "(E)" and insert "
(D)".
Page 2, line 30, delete "maintenance" and insert "
management".
Page 2, line 31, delete "(F)" and insert "
(E)".
Page 2, line 32, delete "(G)" and insert "
(F)".
Page 2, line 34, delete "(H)" and insert "
(G)".
Page 3, line 1, delete "facilities maintenance," and insert
"
facilities,".
Page 3, line 14, delete "clusters of".
Page 3, line 22, delete "An" and insert "
School corporations and".
Page 3, line 22, delete "center" and insert "
centers".
Page 3, line 24, delete "for school corporation actions".
Page 3, line 40, delete "periodically" and insert "
annually".
Page 4, line 9, delete "budget," and insert "
budget and school
corporation officials,".
Page 4, line 19, delete "clusters" and insert "
common
management,".
Page 4, line 24, delete "budget and" and insert "
budget,".
Page 4, line 24, after "department," insert "
and school corporation
officials,".
Page 4, line 29, delete "instructional activities expenditures,
specifying all" and insert "
academic achievement expenditures.".
Page 4, delete lines 30 through 32.
Page 4, line 33, delete "expenditures, including all" and insert
"
expenditures.".
Page 4, delete lines 34 through 35.
Page 4, line 36, delete "Operational expenditures, including all sums
spent on or" and insert "
Overhead and operational expenditures.".
Page 4, delete line 37.
Page 4, line 38, delete "expenditures, including all sums spent on"
and insert "
expenditures.".
Page 4, delete lines 39 through 40.
Page 5, line 7, delete "November 1, " insert "
December 31,".
Page 5, line 22, after "recognize" insert "
publicly".
Page 5, line 26, after "budget" insert "
and the division of finance
of the department".
Page 5, line 26, after "shall" insert "
be available to".
Page 5, line 31, after "public" insert "
in the school corporation's
annual performance report".
Page 7, line 13, delete "system;" and insert "
system, including a
plan for the department to work with the officials in each school
corporation who are responsible for the management of the school
corporation's finances, organizations, and other resources to create
programs and curricula to develop the officials' financial
management skills and abilities as well as train them in the use of
the system;".
(Reference is to HB 1006 as introduced.)
and when so amended that said bill do pass.
__________________________________
CR100601/DI 109 2006