PIERRE - Gov. Mike Rounds has vetoed a bill that would create a new formula for the distribution of state funds to technical institutes.

The governor says the legislation provides no guidelines for funding of the schools in the next budget year, beginning July 1.

He says HB1016 also would eliminate funding sources for such things as maintenance and repairs, and programs at the institutes in Watertown, Sioux Falls, Mitchell and Aberdeen.

Lawmakers will meet Monday to consider the veto. It requires two-thirds votes in both the House and Senate to override vetoes.