Text: S05440 Text: S05442 Text: S05400 - S05499 Text: S Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN
1 1 Amend Senate File 2449 as follows:
1 2 #1. Page 31, by inserting before line 1 the
1 3 following:
1 4 "DIVISION
1 5 PROPERTY TAX STUDY
1 6 Sec. . The legislative council shall direct the
1 7 establishment of a legislative committee to study the
1 8 system of local government property taxation. The
1 9 committee shall conduct a comprehensive review of the
1 10 property tax system in Iowa, including identifying the
1 11 various classes of property taxpayers, the portion of
1 12 property taxes collected from each class of taxpayer,
1 13 the distribution of those taxes to local governments,
1 14 and the value of local government services received by
1 15 a class of taxpayers in relation to the amount of
1 16 property taxes paid by that class. The committee
1 17 shall also examine the current system of property tax
1 18 credits and exemptions allowed to taxpayers, tax
1 19 increment financing and tax abatement programs,
1 20 property tax credits and exemptions, the effect of tax
1 21 abatement programs, and tax increment financing on the
1 22 tax rates applied to the other classes of property,
1 23 and the general authority of local officials to abate
1 24 property taxes.
1 25 As an integral part of the collection of taxes by
1 26 local governments, the committee shall also review the
1 27 budgeting procedures and practices of local
1 28 governments, including the process of estimating and
1 29 spending ending fund balances; the authorization to
1 30 use, or the practice of using, unexpended funds or
1 31 ending fund balances for capital improvements or other
1 32 nonrecurring expenditures; and the impact on property
1 33 tax rates of actions of the school budget review
1 34 committee, the state appeal board, the application of
1 35 the property tax rollback, and the application of
1 36 equalization orders issued by the department of
1 37 revenue and finance.
1 38 The committee shall also review the use of property
1 39 taxes as the sole or major source of funding for
1 40 school, city, and county services and the use of
1 41 alternate sources of revenues to pay for such
1 42 services, the repayment of bonds or other debt
1 43 obligations by local governments, the use of alternate
1 44 sources of revenue to repay bonds or other debt
1 45 obligations, and the current statutory requirements
1 46 for the issuance of bonds or other debt obligations by
1 47 local governments."
1 48 #2. Title page, line 12, by inserting after the
1 49 word "credits;" the following: "establishing a study
1 50 of the property tax system as the sole or major source
2 1 of local funding and of alternate sources of funding
2 2 for school, city, and county services, the repayment
2 3 of bonds or other debt obligations, and capital
2 4 improvements;".
2 5 #3. By renumbering as necessary.
2 6
2 7
2 8
2 9 EMIL J. HUSAK
2 10
2 11
2 12
2 13 LARRY MURPHY
2 14
2 15
2 16
2 17 BRAD BANKS
2 18 SF 2449.502 76
2 19 sc/jw
Text: S05440 Text: S05442 Text: S05400 - S05499 Text: S Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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