2015 Session

Budget Amendments - HB1400 (Conference Report)

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Redirect Interest Rate Subsidy Grants to VRS

Item 136 #8c

Item 136 #8c

First Year - FY2015 Second Year - FY2016
Education: Elementary and Secondary
Direct Aid To Public Education FY2015 $0 FY2016 ($19,232,000) GF
FY2015 $0 FY2016 $19,232,000 NGF

Page 125, line 35, strike "$120,991,825" and insert "$140,223,825".
Page 131, strike lines 8 through 14.
Page 131, line 15, unstrike "b." and strike "c."
Page 131, line 15, strike "$50 million" and insert "$52,884,000".
Page 131, line 20, unstrike "c". and strike "d".

(This amendment re-purposes the $25.0 million in the second year from Interest Rate Subsidy grants to reflect $19.2 million for teacher retirement costs and $2.9 million for additional school construction loans and $2.9 million to pay down a portion of the remaining outstanding balance of the deferred contribution of the unfunded liability for teacher retirement. The $2.9 million adjustment for the deferred contribution is reflected in a companion amendment in this item.)