160.534. Excursion gambling boat proceeds, transfer to certain education funds.
Excursion gambling boat proceeds, transfer to certain education funds.
160.534. 1. For fiscal year 1996 and each subsequent fiscal year,any amount of the excursion gambling boat proceeds deposited in the gamingproceeds for education fund in excess of the amount transferred to theschool district bond fund as provided in section 164.303, RSMo, shall betransferred to the classroom trust fund. Such moneys shall be distributedin the manner provided in section 163.043, RSMo.
**2. Starting in fiscal year 2009, and for each subsequent fiscalyear, all excursion gambling boat proceeds deposited in the gaming proceedsfor education fund in excess of the amount transferred to the classroomtrust fund for fiscal year 2008 plus the amount appropriated to the schooldistrict bond fund in accordance with section 164.303, RSMo, shall bedeposited into the schools first elementary and secondary educationimprovement fund. The provisions of this subsection shall terminate onJuly 1, 2010.
***3. The amounts deposited in the schools first elementary andsecondary education improvement fund pursuant to this section shallconstitute new and additional funding for elementary and secondaryeducation and shall not be used to replace existing funding provided forelementary and secondary education. The provisions of this subsectionshall terminate on July 1, 2009.
(L. 1993 S.B. 380 § 8 subsec. 1, A.L. 1995 S.B. 301, A.L. 2005 S.B. 287, A.L. 2008 Adopted by Initiative, Proposition A, November 4, 2008, A.L. 2009 S.B. 291)Effective 7-13-09
**Subsection 2 terminates 7-01-10
***Subsection 3 terminates 7-01-09
*Revisor's note: The language as enacted by Proposition A on November 4, 2008, follows.
1. For fiscal year 1996 and each subsequent fiscal year, any amount of the excursion gambling boat proceeds deposited in the gaming proceeds for education fund in excess of the amount transferred to the school district bond fund as provided in section 164.303, RSMo, shall be transferred to the classroom trust fund. Such moneys shall be distributed in the manner provided in section 163.043, RSMo.
2. Starting in fiscal year 2009, and for each subsequent fiscal year, all excursion gambling boat proceeds deposited in the gaming proceeds for education fund in excess of the amount transferred to the classroom trust fund for fiscal year 2008 plus the amount appropriated to the school district bond fund in accordance with section 164.303, RSMo, shall be deposited into the schools first elementary and secondary education improvement fund.
3. The amounts deposited in the schools first elementary and secondary education improvement fund pursuant to this section shall constitute new and additional funding for elementary and secondary education and shall not be used to replace existing funding provided for elementary and secondary education.