SS/SCS/SB 264 - This act asserts that any school district which receives ninety-six percent (or less) of its fiscal year 2002 formula distribution shall not be obligated to comply with the salary compliance provisions of Section 165.016, RSMo. The act prescribes that the district must have unrestricted fund balances in the combined incidental and teacher funds on June 13th of the preceding year which is equal to or less than seventeen percent of the combined expenditures for the preceding year from these funds as a condition for said non-compliance.

Further, this substitute articulates another set of specifications school districts may meet in order to be exempt from the salary compliance provisions of the section:

- School districts with ten percent or more of its assessed valuation owned by one person or corporation who is delinquent in a property tax payment;

- School districts with unrestricted fund balances in the combined incidental and teacher funds on June thirtieth of the preceding year which are equal to or less than one half of the local property tax revenue for the previous year; and

- School districts which receive in the current fiscal year ninety-six percent (or less) of their fiscal year 2002 formula distribution.

This act contains an emergency clause.
DONALD THALHUBER