168.745. Compensation package created--fund created.
Compensation package created--fund created.
168.745. 1. There is hereby created the "Teacher Choice CompensationPackage" to permit performance-based salary stipends upon the decision ofthe teacher in a metropolitan school district as described in section168.747 to reward teachers for objectively demonstrated superiorperformance.
2. There is hereby created the "Teacher Choice Compensation Fund" inthe state treasury. The fund shall be administered by the department ofelementary and secondary education. The state treasurer shall be custodianof the fund and may approve disbursements from the fund in accordance withsections 30.170 and 30.180, RSMo.
3. The teacher choice compensation fund shall consist of all moneystransferred to it under this section, and all moneys otherwise appropriatedto or donated to it. Notwithstanding the provisions of section 33.080,RSMo, to the contrary, any moneys remaining in the fund at the end of thebiennium shall not revert to the credit of the general revenue fund. Thestate treasurer shall invest moneys in the fund in the same manner as otherfunds are invested. Any interest and moneys earned on such investmentsshall be credited to the fund.
4. The general assembly shall annually appropriate five milliondollars to the fund created in this section.
(L. 2009 S.B. 291)