(Reprint)
         
Session of 2000
         
HOUSE BILL No. 2476
         
By Representatives J. Peterson, Adkins, Ballard, Boston, Campbell, Far-
                mer, Findley, Glasscock, Henderson, McKechnie, Phelps, Pottorff,
                Reinhardt, Stone, Storm and Wagle
               
2-10
         

13             AN  ACT concerning state educational institutions; enacting the Kansas
14             partnership for faculty of distinction program; prescribing certain pow-
15             ers, duties and functions and guidelines therefor; transfers from the
16             state general fund.
17      
18      
19       Be it enacted by the Legislature of the State of Kansas:
20             Section  1. As used in this act:
21             (a) ``State educational institution'' means Fort Hays state university,
22       Kansas state university of agriculture and applied science, Emporia state
23       university, Pittsburg state university, the university of Kansas, the uni-
24       versity of Kansas medical center and Wichita state university.
25             (b) ``Endowment association'' means:
26             (1) The Fort Hays Kansas state university endowment association for
27       Fort Hays state university;
28             (2) the Kansas state university foundation for the Kansas state uni-
29       versity of agriculture and applied science;
30             (3) the Emporia state university foundation, inc., for Emporia state
31       university;
32             (4) the Pittsburg state university foundation, inc., for Pittsburg state
33       university;
34             (5) the Kansas university endowment association for the university of
35       Kansas;
36             (6) the Kansas university endowment association for the university of
37       Kansas medical center; and
38             (7) the Wichita state university endowment association for Wichita
39       state university.
40             (c) ``Qualifying gift'' means a monetary donation which (1) is a single
41       monetary donation from a single donor or entity or is a joint monetary
42       donation from or on behalf of two or more donors or entities that are
43       directly related or associated or that otherwise are determined by the


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  1       state board of regents to have common characteristics or similarities such
  2       that the joint monetary donation conforms with the purposes of the pro-
  3       gram, (2) is made at one time in cash or the equivalent of cash, (3) has
  4       been received by the endowment association of a state educational insti-
  5       tution from a single donor or entity for the purpose of endowing a pro-
  6       fessorship at the state educational institution in accordance with the pro-
  7       gram, and (4) is:
  8             (A) For Fort Hays state university, Emporia state university and Pitts-
  9       burg state university, an aggregate amount of at least $200,000;
10             (B) for Wichita state university, an aggregate amount of at least
11       $350,000; and
12             (C) for the university of Kansas, the university of Kansas medical
13       center and Kansas state university of agriculture and applied science, an
14       aggregate amount of at least $500,000.
15             (d) ``Endowed professorship'' means the position of a professor of the
16       faculty of a state educational institution for which a qualifying gift is re-
17       ceived by the endowment association of the state educational institution
18       in accordance with the Kansas partnership for faculty of distinction pro-
19       gram.
20             (e) ``Program'' means the Kansas partnership for faculty of distinction
21       program established by this act.
22             Sec.  2. (a) The Kansas partnership for faculty of distinction program
23       is hereby established to encourage gifts by private donors to enhance the
24       ability of state educational institutions to attract and retain faculty of dis-
25       tinction. The program shall be administered by the state board of regents
26       in accordance with this act. Under the Kansas partnership for faculty of
27       distinction program, the state shall contribute income earnings equivalent
28       awards in accordance with this act to supplement endowed professorships
29       at state educational institutions for which qualifying gifts have been re-
30       ceived by endowment associations.
31             (b) There is hereby established a faculty of distinction matching fund
32       at each state educational institution. The state educational institution shall
33       establish an endowed professorship account in the faculty of distinction
34       matching fund for each endowed professorship established under the
35       Kansas partnership for faculty of distinction program. All expenditures
36       from the faculty of distinction matching fund shall be for one or more
37       endowed professorships to supplement salary and to provide additional
38       operating support for assistants, travel, equipment or other expenses of
39       the endowed professorships.
40             (c) The president or chancellor of a state educational institution shall
41       notify the state board of regents of the receipt of a qualifying gift under
42       the Kansas partnership for faculty of distinction program. Upon receiving
43       such notice, the state board of regents shall determine if the donation is


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  1       a qualifying gift for such state educational institution. Upon determining
  2       that a qualifying gift has been received by the endowment association for
  3       the state educational institution, the state board of regents shall certify to
  4       the director of accounts and reports the amount and date of receipt of
  5       the qualifying gift under the program and the endowed professorship
  6       account established in the faculty of distinction matching fund therefor.
  7             (d) No moneys committed or pledged to be given to an endowment
  8       association prior to the effective date of this act shall be included as part
  9       of any qualifying gift under the program, notwithstanding the date when
10       such moneys were actually received by the endowment association.
11             Sec.  3. (a) Subject to the other provisions of this act, on the first day
12       of the first month commencing 12 months after the date of receipt of the
13       certification of receipt of a qualifying gift under section 3 and amend-
14       ments thereto, and on the first day of the month each 12 months there-
15       after, the director of accounts and reports shall transfer from the state
16       general fund to the endowed professorship account of the faculty of dis-
17       tinction matching fund of the state educational institution the amount
18       determined by the director of accounts and reports to be the earnings
19       equivalent award for such qualifying gift for such twelve-month period.
20             (b) The earnings equivalent award for an endowed professorship for
21       a twelve-month period shall be determined by the director of accounts
22       and reports and shall be the amount of interest earnings that the amount
23       credited to the endowed professorship account of the endowment asso-
24       ciation would have earned at the average monthly net earnings rate of
25       the pooled money investment board portfolio for such preceding twelve-
26       month period.
27             (c) The total amount of new qualifying gifts which may be certified
28       to the director of accounts and reports under this act during any state
29       fiscal year for all state educational institutions shall not exceed
30       $30,000,000. The total amount of new qualifying gifts which may be cer-
31       tified to the director of accounts and reports under this act during any
32       state fiscal year for any individual state educational institution shall not
33       exceed $10,000,000.
34             Sec.  4. The president or chancellor of the state educational institu-
35       tion for which a qualifying gift has been received by the endowment
36       association shall provide from the institution's operating budget a salary
37       and full-time position for the endowed professorship. In the manner pre-
38       scribed by policies adopted by the state board of regents, the president
39       or chancellor of each state educational institution having an endowed
40       professorship under this program shall report annually to the state board
41       of regents a full accounting of the amounts and purposes of all expendi-
42       tures of the moneys transferred to the faculty of distinction matching fund
43       of the state educational institution under this act and the moneys realized


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  1       from the interest earned on the qualifying gift held in trust by the en-
  2       dowment association for such endowed professorship during the preced-
  3       ing state fiscal year.
  4        Sec.  5. This act shall take effect and be in force from and after its
  5       publication in the statute book.