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House Journal: Page 614: Tuesday, February 28, 1995

18   of tax which would be levied on said the tract of
such
19   lands were the levy for the general school fund five
20   dollars and forty cents per thousand dollars of
21   assessed value for the previous year, except in the
22   case of a deficiency in the agricultural land credits
23   farm tax credit fund to pay said the credits in
full,
24   in which case the credit on each eligible tract of
25   such lands in the state shall be proportionate and
26   shall be applied as hereinafter provided.
27     Sec. 134.  Section 426.6, Code 1995, is amended to
28   read as follows:
29     426.6  COMPUTATION BY AUDITOR -- APPEAL.
30     The agricultural land farm tax credit allowed each
31   year shall be computed as follows:  On or before the
32   first of June the county auditor shall list by school
33   districts all tracts of agricultural lands which they
34   are entitled to credit, together with the taxable
35   value for the previous year, together with the budget
36   from each school district for the previous year, and
37   the tax rate determined for the general fund of the
38   district in the manner prescribed in section 444.3 for
39   the previous year, and if such tax rate is in excess
40   of five dollars and forty cents per thousand dollars
41   of assessed value, the auditor shall multiply the tax
42   levy which is in excess of five dollars and forty
43   cents per thousand dollars of assessed value by the
44   total taxable value of the agricultural lands entitled
45   to credit in the district, and multiply this amount by
46   the applicable fiscal year percentage and on or before
47   the first of June certify the this last amount to
the
48   department of revenue and finance.
49     For purposes of this chapter, the "applicable
50   fiscal year percentage" means for the fiscal year

Page 2  

 1   beginning July 1, 1996, the amount equal to the
 2   appropriation made in section 426.1 for the fiscal
 3   year beginning July 1, 1996, divided by the amount of
 4   credits certified under this section to the department
 5   of revenue and finance for the fiscal year beginning
 6   July 1, 1995.  For succeeding fiscal years, the
 7   applicable fiscal year percentage equals the
 8   appropriation for that fiscal year divided by the
 9   amount of credits certified under this section to the
10   department of revenue and finance for the previous
11   fiscal year times the applicable fiscal year
12   percentage calculated under this paragraph for the
13   previous fiscal year.
14     In the event the county auditor denies a credit
15   upon any such lands, the auditor shall immediately
16   mail to the owner at the owner's last known address
17   notice of the decision thereon.  The owner may, within
18   thirty days thereafter, appeal to the board of
19   supervisors of the county wherein the land involved is

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Sun Jan 14 21:05:02 CST 1996
URL: /DOCS/GA/76GA/Session.1/HJournal/00600/00614.html
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