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HOUSE BILL NO. 753

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Daily Data Tracking History

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H0753..........................................................by EDUCATION
TIMBER SALES - Amends existing law to provide that annually the state
treasurer shall set aside the first ten million dollars of the moneys
received from the sale of timber on public school lands for transfer to the
School District Building Account.

02/19    House intro - 1st rdg - to printing
02/20    Rpt prt - to Rev/Tax

Bill Text

H0753


                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fourth Legislature                 Second Regular Session - 1998
                                                                        

                             IN THE HOUSE OF REPRESENTATIVES

                                    HOUSE BILL NO. 753

                                  BY EDUCATION COMMITTEE

 1                                        AN ACT
 2    RELATING TO SALE OF TIMBER ON STATE  LANDS;  AMENDING  SECTION  58-116,  IDAHO
 3        CODE,  TO  PROVIDE  THAT  ANNUALLY THE STATE TREASURER SHALL SET ASIDE THE
 4        FIRST TEN MILLION DOLLARS RECEIVED FOR THE SALE OF TIMBER ON PUBLIC SCHOOL
 5        LANDS FOR REMITTANCE TO THE SCHOOL DISTRICT BUILDING ACCOUNT.

 6    Be It Enacted by the Legislature of the State of Idaho:

 7        SECTION 1.  That Section 58-116, Idaho Code, be, and the  same  is  hereby
 8    amended to read as follows:

 9        58-116.  GROSS  RECEIPTS PAYABLE INTO TREASURY.  (1)  The gross
10    amount of money received by the department, from whatever source, belonging to
11    or for the use of the state, shall be paid into the  state  treasury,  without
12    delay,  without  any  deduction  on account of salaries, fees, costs, charges,
13    expenses or claim of any description whatever and shall be  credited  to  such
14    fund or funds as are now or may hereafter be designated by law for the deposit
15    thereof. No money belonging to, or for the use of, the state shall be expended
16    or applied by the department except in consequence of an appropriation made by
17    law and upon the warrant of the state controller.
18          (2)  Annually,  the  state  treasurer shall set aside the first ten
19    million dollars ($10,000,000) received for the sale of timber on public school
20    lands owned by the state and the state treasurer shall remit  such  amount  to
21    the  school  district  building account created in section 33-905, Idaho Code.
22    

Statement of Purpose / Fiscal Impact

    





                          STATEMENT OF PURPOSE
    
                               RS 08018C1
    
    This legislation would give Idaho schools an added $10 
    million a year for facilities. It would be distributed in 
    the same way that lottery money for schools is now 
    distributed. Ten million dollars a year from the sale of 
    timber on state school endowment land would go directly to 
    schools rather than into the endowment fund. State land 
    timber sale income in the current year is projected at $39 
    million. This bill would recognize current school facility 
    needs as a higher priority than the long-term growth of the 
    fund.
    
                              FISCAL NOTE
    
    The legislation would approximately double the amount of 
    money from state sources going to schools for facilities. 
    It would reduce the future growth of the school endowment 
    fund. That fund had a fiscal 1997 balance of $435 million 
    and is expected to grow by more than $40 million in the 
    current fiscal year.
CONTACT: Rep Maynard Miller 
    Representative Pat Bieter 
    Representative Donna Boe 
    208-332-1000
    
    H 753