2015 Session

Budget Amendments - HB1400 (Committee Approved)

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Reduced VRS Rate for Teacher Group

Item 136 #7h

Item 136 #7h

First Year - FY2015 Second Year - FY2016
Education: Elementary and Secondary
Direct Aid To Public Education FY2015 $0 FY2016 ($2,422,087) GF
FY2015 $0 FY2016 $40,000,000 NGF

Page 113, line 32, strike "$6,333,616,326" and insert "$6,371,194,239".
Page 114, line 36, strike "$373,081,085" and insert "$370,658,998".
PAge 114, line 46, strike "$5,573,189,875" and insert "$5,570,767,788".
Page 125, line 21, strike "$150,000,000" and insert "$190,000,000".

(This amendment captures $2.4 million the second year from the general fund the application of lower teacher retirement fund rates following the one-time transfer of $40.0 million in Literary Fund proceeds to the outstanding ten-year deferred contribution balance of $356.1 million. The remaining balance of $316.1 million is then reamortized over the remaining six-year amortization period to produce the savings amount.)