State Codes and Statutes
Statutes > Missouri > T21 > C313 > 313_778(L. 2008 Adopted by Initiative, Proposition A, § 2, November 4, 2008,effective November 4, 2008, Repealed L. 2009 S.B. 291 § A)
Effective 7-01-10Fund created--state treasurer's duties.*Revisor''s note: The language as enacted by Proposition A on November 4, 2008, is effective until 7-01-10. Due to the delayed effective date of the repeal, that language follows this section.
313.778. There is hereby created in the state treasury the "SchoolsFirst Elementary and Secondary Education Improvement Fund", which shallconsist of taxes on excursion gambling boat proceeds as provided in subsection2 of section 160.534**, RSMo, to be used solely for the purpose of increasingfunding for elementary and secondary education. The schools first elementaryand secondary education improvement fund shall be state revenues collectedfrom gaming activities for purposes of article III, section 39(d) of theconstitution. Moneys in the schools first elementary and secondary educationimprovement fund shall be kept separate from the general revenue fund as wellas any other funds or accounts in the state treasury. The state treasurershall be custodian of the fund and may approve disbursements from the fund inaccordance with sections 30.170 and 30.180, RSMo. Notwithstanding theprovisions of section 33.080, RSMo, to the contrary, any moneys remaining inthe fund at the end of the biennium shall not revert to the credit of thegeneral revenue fund. The state treasurer shall invest moneys in the fund inthe same manner as other funds are invested. Any interest and moneys earnedon such investments shall be credited to the fund.
(L. 2008 Adopted by Initiative, Proposition A, § 2, November 4, 2008)Effective 11-04-08
*This section was repealed in 2009 by S.B. 291, effective 7-01-10.
**References to statute or section numbers have been changed to comply with section 3.060, RSMo.
