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
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