The DC Code: § 38-2971.01 Establishment of the Public School Capital Improvement Fund.

a

There is established a nonlapsing special revenue fund to be known as the Public School Capital Improvement Fund ("Fund"), which shall be separate from the General Fund of the District of Columbia and which shall be used to provide a revenue source for the Office of Public Education Facilities Modernization.

b

The Chief Financial Officer shall deposit into the Fund:

1

All revenue specifically identified by any provision of District of Columbia law to be paid into the Fund; and

2

Any federal grant or other federal funds that may be used for the purposes of the Fund.

c

Funds deposited in the Fund shall not revert to the General Fund of the District of Columbia at the end of any fiscal year or at any other time, but shall be continually available for the uses and purposes set forth in this chapter, subject to authorization by Congress in an appropriations act.

d

Beginning on October 1, 2006, the Chief Financial Officer shall transfer any funds deposited in the Fund to the Office of Public Education Facilities Modernization, subject to the requirements of § 38-2971.03.

e

The appropriation of local funds to, or the existence of retained funds in, the Public School Capital Improvement Fund shall not replace local funding that otherwise would be directed to the capital budget for the Office of Public Education Facilities Modernization.

Historical and Statutory

Effect of Amendments D.C. Law 17-9 rewrote subsecs. (a), (d), and (e), which read as follows: "(a) There is established a nonlapsing special revenue fund to be known as the Public School Capital Improvement Fund ("Fund"), which shall be separate from the General Fund of the District of Columbia and which shall be used to provide a revenue source for the District of Columbia Public Schools capital budget." "(d) Beginning on October 1, 2006, the Chief Financial Officer shall transfer any funds deposited in the Fund that are requested by the Board of Education to the Board of Education through District of Columbia Public Schools capital budget, subject to the requirements of § 38-2971.03. "(e) The appropriation of local funds to, or the existence of retained funds in, the Public School Capital Improvement Fund shall not replace local funding that otherwise would be directed to the capital budget for the District of Columbia Public Schools." Legislative History of Laws Law 16-123, the "School Modernization Financing Act of 2006", was introduced in Council and assigned Bill No. 16-250 which was referred to the Committees on Education, Libraries, and Recreation and Revenue and Finance. The Bill was adopted on first and second readings on February 7, 2006, and March 7, 2006, respectively. Signed by the Mayor on March 30, 2006, it was assigned Act No. 16-341 and transmitted to both Houses of Congress for its review. D.C. Law 16- 123 became effective on June 8, 2006. For Law 17-9, see notes under § 38-103. DC CODE § 38-2971.01 Current through December 11, 2012

Credits

(June 8, 2006, D.C. Law 16-123, § 101, 53 DCR 2843; June 12, 2007, D.C. Law 17-9, § 1010(a), 54 DCR 4102.)