Text: H03198 Text: H03200 Text: H03100 - H03199 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend the amendment, H-3030, to Senate File 69, as
1 2 passed by the Senate, as follows:
1 3 #1. Page 11, by striking lines 36 and 37 and
1 4 inserting the following:
1 5 "1. For the fiscal year beginning July 1, 1996,
1 6 eight million, one hundred thousand dollars."
1 7 #2. Page 11, by striking line 39 and inserting the
1 8 following: "fifteen million, two hundred thousand
1 9 dollars."
1 10 #3. Page 11, by striking line 41 and inserting the
1 11 following: "twenty-one million, one hundred thousand
1 12 dollars."
1 13 #4. Page 12, by inserting before line 38 the
1 14 following:
1 15 "Sec. . NEW SECTION. 427B.19E INDUSTRIAL
1 16 MACHINERY, EQUIPMENT AND COMPUTERS RELIEF FUND.
1 17 1. The industrial machinery, equipment and
1 18 computers relief fund is created. There is
1 19 appropriated annually from the general fund of the
1 20 state to the department of revenue and finance to be
1 21 credited to the relief fund, the following amounts:
1 22 a. For the fiscal year beginning July 1, 1996, one
1 23 million, nine hundred thousand dollars.
1 24 b. For the fiscal year beginning July 1, 1997, one
1 25 million, eight hundred thousand dollars.
1 26 c. For the fiscal year beginning July 1, 1998, one
1 27 million, nine hundred thousand dollars.
1 28 Moneys in the fund at the end of a fiscal year
1 29 shall not revert to the general fund of the state,
1 30 notwithstanding section 8.33.
1 31 2. a. The purpose of the industrial machinery,
1 32 equipment and computers relief fund is to provide
1 33 funds to those taxing districts in which an increase
1 34 in property tax revenue has not been realized as a
1 35 result of the elimination of the property tax on
1 36 property assessed pursuant to section 427B.17.
1 37 Beginning with the fiscal year beginning July 1, 1996,
1 38 a taxing district may apply for funds under this
1 39 section by filing an application with the director of
1 40 the department of management not later than March 1
1 41 preceding the fiscal year in which the funds will be
1 42 distributed. The state appeal board shall approve,
1 43 disapprove, or reduce the amount of funds requested by
1 44 the taxing district.
1 45 b. On forms provided by the department of
1 46 management, the taxing district shall request an
1 47 amount not exceeding the product of the decrease in
1 48 assessed valuation for the fiscal year for which the
1 49 application is filed compared to the assessed
1 50 valuation in the previous fiscal year, as determined
2 1 pursuant to subsection 3, and the property tax rate
2 2 applied in the previous fiscal year, less any property
2 3 tax replacement funds received pursuant to section
2 4 427B.19A in the previous fiscal year. The taxing
2 5 district shall also submit with the application the
2 6 district's plan to improve its future budget position.
2 7 c. Claims approved by the state appeal board shall
2 8 be paid to the taxing district by October 1 following
2 9 submission of the application for funds.
2 10 3. To be eligible to receive funds under this
2 11 section, a taxing district must show that there has
2 12 been a decrease of more than three percent in the
2 13 assessed valuation for taxes payable in the fiscal
2 14 year for which the application is submitted compared
2 15 to the assessed valuation for taxes payable in the
2 16 previous fiscal year, which decrease is attributable
2 17 to the elimination of the property tax on industrial
2 18 machinery, equipment and computers pursuant to section
2 19 427B.17. The taxing district, to be eligible for
2 20 funds, must also show that the district has exhausted
2 21 all other lawful alternatives for improving the
2 22 district's budget position.
2 23 4. If the amount appropriated in this section is
2 24 insufficient to pay all applications approved, the
2 25 director of revenue and finance shall prorate the
2 26 disbursements from the relief fund and shall report
2 27 the amount of the shortfall to the director of the
2 28 department of management. By January 1 of the
2 29 following year, the director of the department of
2 30 management shall submit to the general assembly a plan
2 31 for the funding of approved applications that were not
2 32 fully funded in that fiscal year.
2 33 5. Amounts received pursuant to this section shall
2 34 not be considered property tax dollars certified for
2 35 purposes of the property tax limitation in chapter
2 36 444.
2 37 6. The department of revenue and finance and the
2 38 department of management shall adopt rules necessary
2 39 to implement this section."
2 40 #5. Be renumbering as necessary.
2 41
2 42
2 43
2 44 HALVORSON of Clayton
2 45 SF 69.727 76
2 46 sc/sc
Text: H03198 Text: H03200 Text: H03100 - H03199 Text: H Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
Search: House Bills and Amendments (76th General Assembly)
© 1996 Cornell College and League of Women Voters of Iowa
Comments? webmaster@legis.iowa.gov.
Last update: Thu Feb 8 16:38:58 CST 1996
URL: /DOCS/GA/76GA/Legislation/H/03100/H03199/950223.html
jhf