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H0780aaS............................................by REVENUE AND TAXATION
BOND LEVY EQUALIZATION PROGRAM - Amends existing law relating to the Bond
Levy Equalization Support Program to prohibit utilization of assistance
pursuant to the program for projects previously subsidized by state grants;
to provide that a school district shall not be deemed to be refinancing
existing debt in certain circumstances; and to provide that an otherwise
eligible school district shall not be deemed ineligible due to the school
districts's eligibility and prior participation in safe school programs
under certain conditions.
02/26 House intro - 1st rdg - to printing
02/27 Rpt prt - to Rev/Tax
03/04 Rpt out - rec d/p - to 2nd rdg
03/05 2nd rdg - to 3rd rdg
03/08 3rd rdg - PASSED - 67-0-3
AYES -- Andersen, Barraclough, Barrett, Bauer, Bayer, Bedke, Bell,
Black, Block, Boe, Bolz, Bradford, Campbell, Cannon, Clark, Collins,
Crow, Cuddy, Deal, Denney, Douglas, Eberle, Edmunson, Ellsworth,
Eskridge, Field(18), Field(23), Gagner, Garrett, Harwood, Henbest,
Jaquet, Jones, Kellogg, Kulczyk, Lake, Langhorst, Martinez,
McGeachin, McKague, Meyer, Miller, Mitchell, Moyle, Naccarato,
Nielsen, Pasley-Stuart, Raybould, Ridinger, Ring, Ringo, Roberts,
Robison, Rydalch, Sali, Sayler, Schaefer, Shepherd, Shirley,
Smith(30), Smith(24), Smylie, Stevenson, Trail, Wills, Wood, Mr.
Speaker
NAYS -- None
Absent and excused -- Langford, Skippen, Snodgrass
Floor Sponsor - Denney
Title apvd - to Senate
03/09 Senate intro - 1st rdg - to Loc Gov
03/15 Rpt out - to 14th Ord
03/17 Rpt out amen - to 1st rdg as amen
03/18 1st rdg - to 2nd rdg as amen
Rls susp - PASSED - 33-0-2
AYES -- Andreason, Bailey, Bunderson, Burkett, Burtenshaw,
Calabretta, Cameron, Compton, Darrington, Davis, Gannon, Geddes,
Goedde, Hill, Ingram, Kennedy, Keough, Little, Lodge, Malepeai,
Marley, McKenzie, McWilliams, Noh, Pearce, Richardson, Schroeder,
Sorensen, Stegner, Stennett, Sweet, Werk, Williams
NAYS -- None
Absent and excused -- Brandt, Noble
Floor Sponsors - Cameron & Hill
Title apvd - to House
03/19 House concurred in Senate amens - to engros
Rpt engros - 1st rdg - to 2nd rdg as amen
03/20 2nd rdg - to 3rd rdg as amen
Rls susp - PASSED - 60-2-8
AYES -- Andersen, Barraclough, Barrett, Bayer, Bedke, Bell, Black,
Block, Boe, Bolz, Bradford, Campbell, Cannon, Collins, Crow, Cuddy,
Deal, Denney, Douglas, Edmunson, Ellsworth, Eskridge, Field(18),
Field(23), Gagner, Garrett, Henbest, Jaquet, Jones, Kellogg, Kulczyk,
Lake, Langford, Langhorst, Martinez, McGeachin, McKague, Meyer,
Miller, Moyle, Nielsen, Pasley-Stuart, Raybould, Ring, Ringo,
Robison, Rydalch, Sali, Sayler, Schaefer, Shepherd, Shirley, Skippen,
Smith(30), Smylie, Snodgrass, Stevenson, Wills, Wood, Mr. Speaker
NAYS -- Mitchell, Naccarato
Absent and excused -- Bauer, Clark, Eberle, Harwood, Ridinger,
Roberts, Smith(24), Trail
Floor Sponsor - Denney
Title apvd - To enrol - Rpt enrol - Sp signed
03/20 Pres signed
03/22 To Governor
03/23 Governor signed
Session Law Chapter 198
Effective: 07/01/04
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-seventh Legislature Second Regular Session - 2004
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 780
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO THE BOND LEVY EQUALIZATION SUPPORT PROGRAM; AMENDING SECTION
3 33-906, IDAHO CODE, TO FURTHER LIMIT UTILIZATION OF ASSISTANCE PURSUANT TO
4 THE PROGRAM.
5 Be It Enacted by the Legislature of the State of Idaho:
6 SECTION 1. That Section 33-906, Idaho Code, be, and the same is hereby
7 amended to read as follows:
8 33-906. BOND LEVY EQUALIZATION SUPPORT PROGRAM. Pursuant to section
9 33-906B, Idaho Code, school districts with a value index below one (1) shall
10 be eligible to receive additional state financial assistance for the cost of
11 annual bond interest and redemption payments made on bonds passed on or after
12 September 15, 2002. However, any school district shall receive no less than
13 ten percent (10%) of the interest cost portion of the annual bond interest and
14 redemption payment for bonds passed on or after September 15, 2002. The state
15 department of education shall disburse such funds to school districts from
16 moneys appropriated from the bond levy equalization fund. The department shall
17 disburse the funds by no later than September 1 of each year for school dis-
18 tricts in which voters have approved the issuance of qualifying bonds by no
19 later than January 1 of that calendar year, and which are certifying a quali-
20 fying bond interest and redemption payment for the fiscal year in which the
21 disbursement is made. For districts with a value index below one (1), the per-
22 centage of each annual bond interest and redemption payment that is paid by
23 the state shall be determined by dividing the difference between one (1) and
24 the school district's value index by one (1) provided that the state shall pay
25 for no more than the interest cost portion of the annual bond interest and
26 redemption payment, and each school district shall receive no less than ten
27 percent (10%) of the interest cost portion of the qualifying bond interest and
28 redemption payment.
29 For the purposes of this section, the annual bond interest and redemption
30 payment shall be determined by dividing the total payment amounts by the num-
31 ber of fiscal years in which payments are to be made. The interest cost por-
32 tion of the annual bond interest and redemption payment shall be determined
33 by dividing the total interest paid by the number of fiscal years in which
34 payments are to be made. For school districts not qualifying for a state pay-
35 ment in the first year of the bond interest and redemption payment schedule,
36 due solely to the January 1 eligibility deadline, the state department of edu-
37 cation shall distribute an additional payment in the next fiscal year, in the
38 amount of such funds that the school district would have otherwise qualified
39 for in the current fiscal year.
40 The provisions of this section may not be utilized to refinance existing
41 debt or subsidize projects previously subsidized by state grants.
42 School districts shall annually report the status of all qualifying bonds
43 to the state department of education by January 1 of each year, including
2
1 bonds approved by the voters, but not yet issued. Information submitted shall
2 include the following:
3 (1) The actual or estimated bond interest and redemption payment sched-
4 ule;
5 (2) Any qualifying bond that has been paid off;
6 (3) Other information as may be required by the state department of edu-
7 cation.
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-seventh Legislature Second Regular Session - 2004
Moved by Cameron
Seconded by Hill
IN THE SENATE
SENATE AMENDMENT TO H.B. NO. 780
1 AMENDMENTS TO SECTION 1
2 On page 1 of the printed bill, in line 8, following "PROGRAM." insert:
3 "(1)"; in line 29, before "For" insert: "(2)"; in line 40, before "The"
4 insert: "(3)"; in line 41, following "grants" insert: "; provided however,
5 that any school district that has issued qualifying bonds prior to June 30,
6 2004, in conformance with this section shall not be deemed to be refinancing
7 existing debt when the qualifying bonds are utilized to finance the acquisi-
8 tion of public school facilities previously leased or financed through means
9 other than the issuance of general obligation bonds approved by a two-thirds
10 (2/3) vote at an election called for that purpose subject to subsection (5) of
11 this section"; in line 42, before "School" insert: "(4)".
12 On page 2, in line 3, delete "(1)" and insert: "(1a)"; in line 5, delete
13 "(2)" and insert: "(2b)"; in line 6, delete "(3)" and insert: "(3c)"; and fol-
14 lowing line 7, insert:
15 "(5) No school district eligible for participation in the bond levy
16 equalization support program shall be deemed ineligible for participation due
17 to that school district's eligibility and prior participation in the safe
18 school facilities loan and grant program or the Idaho safe schools facilities
19 program under section 33-804A, 33-1017 or 33-1613, Idaho Code, provided that:
20 (a) Such school district notifies the state department of education of
21 its desire and eligibility to participate in the bond levy equalization
22 support program; and
23 (b) Such school district shall receive no state financial assistance
24 under the bond levy equalization support program until the amount to which
25 it would otherwise have been entitled to receive shall equal the amounts
26 received by the school district under the safe school facilities loan and
27 grant program or the Idaho safe schools facilities program under section
28 33-804A, 33-1017 or 33-1613, Idaho Code.".
29 CORRECTION TO TITLE
30 On page 1, in line 4, following "PROGRAM" insert: ", TO PROVIDE THAT A
31 SCHOOL DISTRICT SHALL NOT BE DEEMED TO BE REFINANCING EXISTING DEBT IN CERTAIN
32 CIRCUMSTANCES, TO PROVIDE THAT AN OTHERWISE ELIGIBLE SCHOOL DISTRICT SHALL NOT
33 BE DEEMED INELIGIBLE DUE TO THE SCHOOL DISTRICT'S ELIGIBILITY AND PRIOR PAR-
34 TICIPATION IN SAFE SCHOOL PROGRAMS UNDER CERTAIN CONDITIONS AND TO MAKE TECH-
35 NICAL CHANGES".
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-seventh Legislature Second Regular Session - 2004
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 780, As Amended in the Senate
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO THE BOND LEVY EQUALIZATION SUPPORT PROGRAM; AMENDING SECTION
3 33-906, IDAHO CODE, TO FURTHER LIMIT UTILIZATION OF ASSISTANCE PURSUANT TO
4 THE PROGRAM, TO PROVIDE THAT A SCHOOL DISTRICT SHALL NOT BE DEEMED TO BE
5 REFINANCING EXISTING DEBT IN CERTAIN CIRCUMSTANCES, TO PROVIDE THAT AN
6 OTHERWISE ELIGIBLE SCHOOL DISTRICT SHALL NOT BE DEEMED INELIGIBLE DUE TO
7 THE SCHOOL DISTRICT'S ELIGIBILITY AND PRIOR PARTICIPATION IN SAFE SCHOOL
8 PROGRAMS UNDER CERTAIN CONDITIONS AND TO MAKE TECHNICAL CHANGES.
9 Be It Enacted by the Legislature of the State of Idaho:
10 SECTION 1. That Section 33-906, Idaho Code, be, and the same is hereby
11 amended to read as follows:
12 33-906. BOND LEVY EQUALIZATION SUPPORT PROGRAM. (1) Pursuant to section
13 33-906B, Idaho Code, school districts with a value index below one (1) shall
14 be eligible to receive additional state financial assistance for the cost of
15 annual bond interest and redemption payments made on bonds passed on or after
16 September 15, 2002. However, any school district shall receive no less than
17 ten percent (10%) of the interest cost portion of the annual bond interest and
18 redemption payment for bonds passed on or after September 15, 2002. The state
19 department of education shall disburse such funds to school districts from
20 moneys appropriated from the bond levy equalization fund. The department shall
21 disburse the funds by no later than September 1 of each year for school dis-
22 tricts in which voters have approved the issuance of qualifying bonds by no
23 later than January 1 of that calendar year, and which are certifying a quali-
24 fying bond interest and redemption payment for the fiscal year in which the
25 disbursement is made. For districts with a value index below one (1), the per-
26 centage of each annual bond interest and redemption payment that is paid by
27 the state shall be determined by dividing the difference between one (1) and
28 the school district's value index by one (1) provided that the state shall pay
29 for no more than the interest cost portion of the annual bond interest and
30 redemption payment, and each school district shall receive no less than ten
31 percent (10%) of the interest cost portion of the qualifying bond interest and
32 redemption payment.
33 (2) For the purposes of this section, the annual bond interest and
34 redemption payment shall be determined by dividing the total payment amounts
35 by the number of fiscal years in which payments are to be made. The interest
36 cost portion of the annual bond interest and redemption payment shall be
37 determined by dividing the total interest paid by the number of fiscal years
38 in which payments are to be made. For school districts not qualifying for a
39 state payment in the first year of the bond interest and redemption payment
40 schedule, due solely to the January 1 eligibility deadline, the state depart-
41 ment of education shall distribute an additional payment in the next fiscal
42 year, in the amount of such funds that the school district would have other-
43 wise qualified for in the current fiscal year.
2
1 (3) The provisions of this section may not be utilized to refinance
2 existing debt or subsidize projects previously subsidized by state grants;
3 provided however, that any school district that has issued qualifying bonds
4 prior to June 30, 2004, in conformance with this section shall not be deemed
5 to be refinancing existing debt when the qualifying bonds are utilized to
6 finance the acquisition of public school facilities previously leased or
7 financed through means other than the issuance of general obligation bonds
8 approved by a two-thirds (2/3) vote at an election called for that purpose
9 subject to subsection (5) of this section.
10 (4) School districts shall annually report the status of all qualifying
11 bonds to the state department of education by January 1 of each year, includ-
12 ing bonds approved by the voters, but not yet issued. Information submitted
13 shall include the following:
14 (1a) The actual or estimated bond interest and redemption payment sched-
15 ule;
16 (2b) Any qualifying bond that has been paid off;
17 (3c) Other information as may be required by the state department of edu-
18 cation.
19 (5) No school district eligible for participation in the bond levy equal-
20 ization support program shall be deemed ineligible for participation due to
21 that school district's eligibility and prior participation in the safe school
22 facilities loan and grant program or the Idaho safe schools facilities program
23 under section 33-804A, 33-1017 or 33-1613, Idaho Code, provided that:
24 (a) Such school district notifies the state department of education of
25 its desire and eligibility to participate in the bond levy equalization
26 support program; and
27 (b) Such school district shall receive no state financial assistance
28 under the bond levy equalization support program until the amount to which
29 it would otherwise have been entitled to receive shall equal the amounts
30 received by the school district under the safe school facilities loan and
31 grant program or the Idaho safe schools facilities program under section
32 33-804A, 33-1017 or 33-1613, Idaho Code.
STATEMENT OF PURPOSE
RS 14202
Amends Section 33-906, Idaho Code, Bond Levy Equalization Support
Program, so that provisions of this section may not be used to
subsidize projects previously subsidized by state grants.
FISCAL IMPACT
None.
Contact
Name: Rep. Lawerence Denney
Phone: (208) 332-1000
STATEMENT OF PURPOSE/FISCAL NOTE H 780