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
Iowa General Assembly
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