76-6b02. Tax levy for institutions of higher education; transfers from state general fund; moneys credited to Kansas educational building fund; authorized uses; pledging of moneys appropriated, effect. (a) All moneys received by the state treasurer under K.S.A. 76-6b01, and amendments thereto, and pursuant to subsection (c) shall be credited to the Kansas educational building fund to be used for the construction, reconstruction, equipment and repair of buildings and grounds at the state educational institutions under the control and supervision of the state board of regents and for payment of debt service on revenue bonds issued to finance such projects, all subject to appropriation by the legislature.

(b) Subject to any restrictions imposed by appropriation acts, the state board of regents is authorized to pledge funds appropriated to it from the Kansas educational building fund or from any other source and transferred to a special revenue fund of the state board of regents specified by statute for the payment of debt service on revenue bonds issued for the purposes set forth in subsection (a). Subject to any restrictions imposed by appropriation acts, the state board of regents is also authorized to pledge any funds appropriated to it from the Kansas educational building fund or from any other source and transferred to a special revenue fund of the state board of regents specified by statute as a priority for the payment of debt service on such revenue bonds. Neither the state or the state board of regents shall have the power to pledge the faith and credit or taxing power of the state of Kansas for such purposes and any payment by the state board of regents for such purposes shall be subject to and dependent on appropriations being made from time to time by the legislature. Any obligation of the state board of regents for payment of debt service on revenue bonds and any such revenue bonds issued for the purposes set forth in subsection (a) shall not be considered a debt or obligation of the state for the purpose of section 6 of article 11 of the constitution of the state of Kansas.

(c) On July 1, 2026, or as soon thereafter as moneys are available, $56,000,000 shall be transferred by the director of accounts and reports from the state general fund to the Kansas educational building fund. On July 1, 2027, and on July 1 each year thereafter, or as soon thereafter as moneys are available, an amount equal to the amount pursuant to this subsection for the immediately preceding year plus a percentage of such amount for the preceding year shall be transferred by the director of accounts and reports from the state general fund to the Kansas educational building fund. Such percentage shall be the average percentage change in statewide taxable valuation of all property for the preceding 10 years and shall not be less than zero. The director of property valuation, in consultation with the director of legislative research and the director of the budget, shall determine such percentage and the amount of moneys that are authorized to be transferred pursuant to this subsection for such fiscal year. On or before February 1, 2027, and on or before February 1 of each year thereafter, the director of property valuation shall certify the amount of each transfer to the director of accounts and reports and transmit a copy of each such certification to the director of legislative research and the director of the budget. All transfers made in accordance with the provisions of this subsection shall be considered to be demand transfers from the state general fund.

History: L. 1941, ch. 388, § 2; L. 1945, ch. 339, § 1; L. 1955, ch. 382, § 2; L. 1961, ch. 430, § 2; L. 1965, ch. 484, § 2; L. 1969, ch. 419, § 2; L. 1974, ch. 414, § 2; L. 1977, ch. 237, § 23; L. 1996, ch. 259, § 37; L. 2025, ch. 71, § 2; July 1.