State of South Dakota
LEGISLATIVE ASSEMBLY, 2012
|966T0605||HOUSE BILL NO. 1225|
Introduced by: Representatives Lucas, Abdallah, Blake, Bolin, Brunner, Dennert, Elliott, Fargen, Feickert, Gibson, Hunhoff (Bernie), Iron Cloud III, Jones, Killer, Kirschman, Kloucek, Schrempp, Sigdestad, Sly, Street, Stricherz, and Wismer and Senators Sutton, Bradford, Buhl, Cutler, Frerichs, Hundstad, and Schlekeway
treasurer shall transfer the amount from the education enhancement trust fund to the state
general fund as soon as practicable after July first of the next fiscal year. The state investment
officer shall apply the 2012 calendar year inflation rate to the principal balance as of
December 31, 2012, to calculate the inflation adjusted principal. Each year thereafter the
inflation adjusted principal will be adjusted for the calendar year inflation rate. For the purposes
of this Act, the calendar year inflation rate shall be established by the South Dakota Investment
Council and may be based on the annual percentage change in the consumer price index as
determined by the Bureau of Labor Statistics of the United States Department of Labor.
Beginning with the distribution in fiscal year 2014, the state investment officer shall determine
that the state investment officer determines available earnings in the education enhancement trust fund as provided in section 1 of this Act. For the fiscal year beginning on July 1, 2013, and for each fiscal year thereafter, the secretary of education shall distribute, through the normal budget process as set forth in § 4-7-9, any funds available for the teacher compensation enhancement program pursuant to section 1 of this Act to each school district based on a prorata share of the total certified teachers. Notwithstanding any collective bargaining agreements, each school district shall then distribute the funds received to the certified teachers employed in the school district. For purposes of this Act, any money provided to a certified teacher employed in a school district shall be in addition to the teacher's regular annual salary and may not be used to supplant any portion of the certified teacher's salary.