SF 154 (LSB 1954XS (3) 85)

SENATE FILE 154

BY  ZAUN, CHELGREN, CHAPMAN, JOHNSON, HOUSER, BEHN, FEENSTRA, and ROZENBOOM

A BILL FOR

An Act providing for an annual transfer of revenue from the general fund of the state to the road use tax fund.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 312.1, subsection 1, Code 2013, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  0e.  Revenue transferred from the general fund of the state pursuant to section 312.10.
    Sec. 2.  NEW SECTION.  312.10  Transfer from general fund of the state.
   The treasurer of state shall transfer annually, from the general fund of the state to the road use tax fund created in section 312.1, the amount equal to one percent of the adjusted revenue estimate, as provided in section 8.54, subsection 1, paragraph “a”, calculated for that fiscal year.
EXPLANATION
   This bill provides for an annual transfer of revenue from the general fund of the state to the road use tax fund. The amount of the transfer shall be the amount equal to 1 percent of the adjusted revenue estimate for the general fund calculated for the year in which the transfer is made.