House File 432
HOUSE FILE
BY DRAKE, KLEMME, BAUDLER,
HUSER, WISE, BUKTA, FOEGE,
BOAL, MERTZ, PETERSEN, SMITH,
JENKINS, LUKAN, JACOBS,
J. K. VAN FOSSEN, JONES, HOFFMAN,
MANTERNACH, ROBERTS, SANDS,
KURTENBACH, STRUYK, CHAMBERS,
GREINER, HUSEMAN, UPMEYER,
TYMESON, WILDERDYKE, HAHN,
ALONS, S. OLSON, DE BOEF, LALK,
DENNIS, BELL, D. TAYLOR, and
ARNOLD
(COMPANION TO LSB 1158SS
BY JOHNSON)
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to an annual appropriation of sales and use tax
2 revenues for purposes of a tourism fund.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 1158HH 80
5 tm/sh/8
PAG LIN
1 1 Section 1. NEW SECTION. 15.115 PROMOTE IOWA FUND.
1 2 A promote Iowa fund is created in the state treasury under
1 3 the control of the department consisting of moneys
1 4 appropriated to the department and deposited in the fund
1 5 pursuant to section 422.105. Moneys in the fund are not
1 6 subject to section 8.33. Notwithstanding section 12C.7,
1 7 interest or earnings on moneys in the fund shall be credited
1 8 to the fund. Moneys in the fund shall be used for marketing,
1 9 salaries, support, maintenance, and miscellaneous purposes
1 10 related to the Iowa tourism office of the department.
1 11 Sec. 2. NEW SECTION. 422.105 PROMOTE IOWA FUND
1 12 APPROPRIATION.
1 13 1. The department of revenue and finance, in cooperation
1 14 with the department of economic development, shall determine a
1 15 tourism percentage that is the percentage of the total amount
1 16 of sales and use tax revenues that can be attributed to the
1 17 tourism industry in the state. The percentage may be
1 18 periodically reviewed and revised.
1 19 2. On August 1 of each fiscal year, the department of
1 20 revenue and finance shall calculate, based on the tourism
1 21 percentage identified in subsection 1, the dollar amount of
1 22 the total sales and use tax revenues collected during the
1 23 previous fiscal year attributed to the tourism industry and
1 24 determine whether there was an increase of more than two
1 25 percent in tourism=related sales and use tax revenues from the
1 26 fiscal year preceding the previous fiscal year. There is
1 27 appropriated from the general fund of the state to the
1 28 department of economic development on August 1 of each fiscal
1 29 year two million dollars or an amount equal to any increase
1 30 above two percent, whichever is greater. Moneys appropriated
1 31 to the department pursuant to this subsection shall be
1 32 deposited in the promote Iowa fund established in section
1 33 15.115.
1 34 EXPLANATION
1 35 This bill annually appropriates a portion of increases in
2 1 tourism=related sales and use tax revenues for purposes of a
2 2 promote Iowa fund.
2 3 The bill creates a promote Iowa fund in the state treasury
2 4 and under the control of the department of economic
2 5 development. The bill provides that moneys in the fund shall
2 6 be used for marketing, salaries, support, maintenance, and
2 7 miscellaneous purposes related to the Iowa tourism office of
2 8 the department.
2 9 The bill provides that the department of revenue and
2 10 finance, in cooperation with the department of economic
2 11 development, shall determine a tourism percentage which is the
2 12 percentage of the total amount of sales and use tax revenues
2 13 that can be attributed to the tourism industry in the state.
2 14 The bill provides that on August 1 of each fiscal year, the
2 15 department of revenue and finance shall calculate, based on
2 16 the tourism percentage identified, the dollar amount of the
2 17 total sales and use tax revenues collected during the previous
2 18 fiscal year attributed to the tourism industry and determine
2 19 whether there was an increase of more than 2 percent in
2 20 tourism=related sales and use tax revenues from the fiscal
2 21 year preceding the previous fiscal year. The bill provides
2 22 that the greater of $2 million or any increase above 2 percent
2 23 shall be appropriated from the general fund of the state to
2 24 the department of economic development for deposit in the
2 25 promote Iowa fund.
2 26 LSB 1158HH 80
2 27 tm/sh/8.3