House File 2040 - Introduced HOUSE FILE 2040 BY STECKMAN A BILL FOR An Act relating to the use of certain regular physical plant 1 and equipment levy funds and including effective date 2 provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5541YH (5) 83 ak/sc

H.F. 2040 Section 1. USE OF PHYSICAL PLANT AND EQUIPMENT LEVY 1 FUNDS. Notwithstanding section 298.3 or any other provision 2 to the contrary, for the fiscal period beginning July 1, 2010, 3 and ending June 30, 2012, regular physical plant and equipment 4 levy funds collected during that fiscal period, and the portion 5 of any unspent balance in the physical plant and equipment 6 levy fund created in section 298A.4 that is attributable to 7 the regular physical plant and equipment levy, may be used 8 by school districts for any school district general fund 9 purpose to the extent the funds are not obligated to pay bonded 10 indebtedness. 11 Sec. 2. EFFECTIVE UPON ENACTMENT. This Act, being deemed of 12 immediate importance, takes effect upon enactment. 13 EXPLANATION 14 This bill allows school districts to use regular physical 15 plant and equipment levy (PPEL) funds and unspent regular 16 physical plant and equipment levy funds in the PPEL fund 17 created pursuant to Code section 298A.4 for any school district 18 general fund purpose, to the extent the PPEL funds are not 19 already obligated to pay debt, for the fiscal period beginning 20 July 1, 2010, and ending June 30, 2012. The regular PPEL is 21 33 1/3 cents per $1,000 of property value and does not require 22 voter approval, pursuant to Code section 298.3. The bill takes 23 effect upon enactment. 24 -1- LSB 5541YH (5) 83 ak/sc 1/ 1