View Amendment Current Amendment: DAD 118.15 & hecf.DOCX to Bill 4000     Senator HEMBREE proposes the following amendment (DAD 118.15 & HECF):
    Amend the bill, as and if amended, Part IB, Section 118, STATEWIDE REVENUE, page 535, proviso 118.15 (Taxpayer Rebate), lines 35-36, and page 536, lines 1-6, by striking the paragraph in its entirety.

    Amend the bill further, as and if amended, Part IB, Section 118, STATEWIDE REVENUE, page 543, after line 16, by adding an appropriately numbered new proviso to read:
/     (SR: Higher Education Facilities Repair and Renovation Fund) In the event that amounts in excess of the Fiscal Year 2018-19 unobligated general fund revenue as certified by the Board of Economic Advisors become available due to increased income tax collections resulting from the lottery ticket redemption associated with the October 24, 2018 Mega Millions contest, from those funds the Higher Education Facilities Repair and Renovation Fund shall be established. The fund shall be separate and distinct from the general fund of the State and all other funds. Earnings and interest on the fund must be credited to it and any balance in the fund at the end of the fiscal year shall be carried forward and used for the same purpose. The Department of Administration, Executive Budget Office shall administer the fund.
    The funds shall be distributed as follows: twenty-five percent shall be transferred to the State Board for Technical and Comprehensive Education for distribution among the state's public technical colleges in a manner the board promulgates by regulation; and the remaining seventy-five percent shall be transferred by the Executive Budget Office for distribution among the state's public institutions of higher learning based on a formula developed by the Executive Budget Office, in consultation with the Commission on Higher Education and adopted by regulation.
    The funds may only be expended for necessary renovation, repair, and related maintenance, and other critical equipment and system repair and maintenance that are necessary for the safe and efficient operation of the institution's physical plant in its support of the institution's educational purpose. Funds must not be used for new construction. /    
    Renumber sections to conform.
    Amend sections, totals and title to conform.