HB 457 -- Financing of Capital Improvements for Schools

Co-Sponsors:  Kreider, Hampton, Boucher

This bill redirects certain excursion gambling boat proceeds
from their current placement in the State School Moneys Fund for
distribution through the foundation formula and substantially
revises the School Building Revolving Fund, renaming it the
School Building Property Tax Relief Fund, which will receive the
redirected funds.

The redirection of funds will be accomplished over a five-year
period beginning in Fiscal Year 2003, and the redirected funds
must be replaced in the State School Moneys Fund by general
revenue.

The School Building Property Tax Relief Fund will supply moneys
for grants on a 75% state/25% district basis, and grant
applications will be prioritized according to the existing 3
categories, which are based on need, plus a new category for
hold-harmless districts and one for other school districts that
do not qualify on need.  Applications that contain school safety
features receive priority within their categories.  Applications
that involve renovation of historic buildings are eligible for a
90/10 match.

Missouri House of Representatives
Last Updated September 13, 2001 at 2:02 pm