Text: HF02111 Text: HF02113 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 384.1, Code 1995, is amended by adding 1 2 the following new unnumbered paragraphs: 1 3 NEW UNNUMBERED PARAGRAPH. If the total taxable valuation 1 4 of all property, after application of any rollbacks or 1 5 equalization orders, for property taxes payable in the fiscal 1 6 year beginning July 1, 1996, is less than the total taxable 1 7 valuation of all property, after application of any rollbacks 1 8 or equalization orders, for property taxes payable in the 1 9 fiscal year beginning July 1, 1995, the city's tax levy rate 1 10 for the general fund under this section is authorized to 1 11 exceed eight dollars and ten cents per thousand dollars of 1 12 taxable value by not more than the product of eight dollars 1 13 and ten cents and the percent change in the price index for 1 14 government purchases, as computed pursuant to section 444.25A, 1 15 subsection 2, paragraph "e", for the fiscal year beginning 1 16 July, 1 1996. This increased levy rate applies only for 1 17 property taxes payable in the fiscal year beginning July 1, 1 18 1996. 1 19 NEW UNNUMBERED PARAGRAPH. If the total taxable valuation 1 20 of all property, after application of any rollbacks or 1 21 equalization orders, for property taxes payable in the fiscal 1 22 year beginning July 1, 1997, is less than the total taxable 1 23 valuation of all property, after application of any rollbacks 1 24 or equalization orders, for property taxes payable in the 1 25 fiscal year beginning July 1, 1995, the city's tax levy rate 1 26 for the general fund under this section is authorized to 1 27 exceed eight dollars and ten cents per thousand dollars of 1 28 taxable value by not more than the product of eight dollars 1 29 and ten cents and the percent change in the price index for 1 30 government purchases, as computed pursuant to section 444.25B, 1 31 subsection 2, paragraph "e", for the fiscal year beginning 1 32 July 1, 1997. This increased levy rate applies only for 1 33 property taxes payable in the fiscal year beginning July 1, 1 34 1997. 1 35 NEW UNNUMBERED PARAGRAPH. A city authorized to exceed the 2 1 eight dollar and ten cent general fund levy under this section 2 2 may do so only upon adoption of a resolution by the city 2 3 council. The city shall include in its notices of its budget 2 4 public hearings the statement drafted by the department of 2 5 management stating that the city is authorized to exceed the 2 6 eight dollar and ten cent general fund levy and such 2 7 statement, and the resolution adopted by the city council, 2 8 shall be read at those budget public hearings. 2 9 Sec. 2. This Act, being deemed of immediate importance, 2 10 takes effect upon enactment and applies to the computation of 2 11 city general fund levy rate limits for taxes payable in fiscal 2 12 years beginning July 1, 1996, and July 1, 1997. 2 13 EXPLANATION 2 14 Under present law the maximum general fund levy for a city 2 15 is $8.10 per $1,000 of taxable valuation, excluding certain 2 16 specifically authorized levies. This bill authorizes a city 2 17 to levy in excess of this $8.10 levy limit if the taxable 2 18 valuations, after the rollbacks and equalization orders, for 2 19 fiscal years beginning July 1, 1996, or July 1, 1997, are less 2 20 than the taxable valuations, after rollbacks and equalization, 2 21 for July 1, 1995. The amount the levy may exceed the $8.10 2 22 limit equals an inflation factor which is based upon the 2 23 percent change in the price index for government purchases by 2 24 type for state and local governments, as computed by an agency 2 25 of the federal government. 2 26 The bill also requires that before a city exceeds the $8.10 2 27 levy limit that a resolution be adopted by the city council 2 28 and that in the notice of the budget public hearings the fact 2 29 of exceeding the levy limit must be noted. In addition at the 2 30 public hearing a statement and the city council's resolution 2 31 to the effect that the $8.10 levy is to be exceeded must be 2 32 read. 2 33 The bill takes effect upon enactment and applies only for 2 34 taxes due and payable in the two fiscal years 1996-1997 and 2 35 1997-1998. 3 1 LSB 3526HV 76 3 2 mg/sc/14
Text: HF02111 Text: HF02113 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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