Text: HF00072 Text: HF00074 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 426.1, Code 1995, is amended to read as 1 2 follows: 1 3 426.1 AGRICULTURAL LAND CREDIT FUND. 1 4 There is created as a permanent fund in the office of the 1 5 treasurer of state a fund to be known as the agricultural land 1 6 credit fund, and for the purpose of establishing and 1 7 maintaining this fund for each fiscal year there is 1 8 appropriatedtheretoto this fund from funds in the general 1 9 fund not otherwise appropriated the sum of thirty-nine million 1 10 one hundred thousand dollarsof which the first ten million1 11dollars shall be transferred to and deposited into the family1 12farm tax credit fund created in section 425A.1. Any balance 1 13 insaidthis fund on June 30 shall revert to the general fund. 1 14 Sec. 2. Chapter 425A, Code 1995, is repealed. 1 15 Sec. 3. This Act, being deemed of immediate importance, 1 16 takes effect upon enactment and applies to property taxes 1 17 payable in fiscal years beginning on or after July 1, 1995. 1 18 EXPLANATION 1 19 The bill repeals the family farm tax credit beginning with 1 20 the property taxes payable in the fiscal year beginning July 1 21 1, 1995. The effect of the repeal will be to increase by $10 1 22 million the amount of funds available for the agricultural 1 23 land tax credit although the bill does not affect the amount 1 24 of the standing appropriation. 1 25 LSB 1299HH 76 1 26 mg/jj/8
Text: HF00072 Text: HF00074 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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