Senate File 2105

                                   SENATE FILE       
                                   BY  KIBBIE, GRONSTAL, COURTNEY,
                                       HOLVECK, RAGAN, DOTZLER,
                                       McCOY, BOLKCOM, HATCH,
                                       WARNSTADT, QUIRMBACH, STEWART,
                                       DVORSKY, CONNOLLY, HORN, FRAISE,
                                       DEARDEN, KREIMAN, and BEALL


    Passed Senate,  Date               Passed House, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to reductions in the standing appropriations to
  2    reimburse local jurisdictions for certain property tax credits
  3    and including effective and applicability date provisions.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 5710ST 80
  6 sc/cf/24

PAG LIN

  1  1    Section 1.  NEW SECTION.  25B.8  REDUCTION IN FUNDING FOR
  1  2 PROPERTY TAX CREDITS.
  1  3    1.  This section applies to the following appropriations
  1  4 made for fiscal years beginning on or after July 1, 2004:
  1  5    a.  The standing unlimited appropriation made in section
  1  6 425.1 for reimbursement for homestead property tax credits.
  1  7    b.  The standing unlimited appropriation made in section
  1  8 425.39 for reimbursement for elderly and disabled property tax
  1  9 credits.
  1 10    c.  The standing unlimited appropriation made in section
  1 11 426A.1A for reimbursement for military service tax credits and
  1 12 exemptions to the extent of six dollars and ninety=two cents
  1 13 per one thousand dollars of assessed value of the exempt
  1 14 property.
  1 15    2.  In order for the general assembly to reduce for the
  1 16 fiscal year beginning the following July 1 any appropriation
  1 17 specified in subsection 1, the bill which reduces that
  1 18 appropriation shall be enacted on or before March 1 preceding
  1 19 the fiscal year for which the appropriation is made.
  1 20    Sec. 2.  EFFECTIVE AND APPLICABILITY DATES.  This Act,
  1 21 being deemed of immediate importance, takes effect upon
  1 22 enactment and applies to appropriations made for fiscal years
  1 23 beginning on or after July 1, 2004.
  1 24                           EXPLANATION
  1 25    This bill requires that in order for certain standing
  1 26 appropriations made for property tax reimbursement to be
  1 27 reduced for the following fiscal year, the bill reducing the
  1 28 appropriation shall be enacted on or before March 1 preceding
  1 29 that fiscal year.
  1 30    The standing appropriations covered by this bill are the
  1 31 homestead, elderly and disabled, and military service property
  1 32 tax credit reimbursements.
  1 33    The bill takes effect upon enactment and applies to
  1 34 appropriations made for fiscal years beginning on or after
  1 35 July 1, 2004.
  2  1 LSB 5710ST 80
  2  2 sc/cf/24