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House Journal: Page 920: Wednesday, March 22, 1995

26   notify the county auditors of the pro rata percentage
27   on or before August 1.
28     4.  The replacement amount paid to each school
29   district shall be regarded as property tax for the
30   purposes of the school foundation property tax levy in
31   section 257.3 and the additional property tax levy in
32   section 257.4.  The department of management shall
33   annually make the adjustments necessary to implement
34   this subsection.
35     Sec. ___.  NEW SECTION.  427B.19B  APPROPRIATION.
36     There is appropriated in each of the following
37   fiscal years from the general fund of the state to the
38   industrial machinery, equipment and computers property
39   tax replacement fund the following amounts:
40     1.  For the fiscal year beginning July 1, 1996,
41   eight million, one hundred thousand dollars.
42     2.  For the fiscal year beginning July 1, 1997,
43   fifteen million, two hundred thousand dollars.
44     3.  For the fiscal year beginning July 1, 1998,
45   twenty-one million, one hundred thousand dollars.
46     4.  For the fiscal year beginning July 1, 1999,
47   twenty-three million, four hundred thousand dollars.
48     5.  For the fiscal year beginning July 1, 2000,
49   twenty-one million, one hundred thousand dollars.
50     6.  For the fiscal year beginning July 1, 2001,

Page   9

 1   eighteen million, one hundred thousand dollars.
 2     7.  For the fiscal year beginning July 1, 2002,
 3   twenty-four million dollars.
 4     8.  For the fiscal year beginning July 1, 2003,
 5   twenty-five million, six hundred thousand dollars.
 6     9.  For the fiscal year beginning July 1, 2004,
 7   twenty million, four hundred thousand dollars.
 8     10.  For the fiscal year beginning July 1, 2005,
 9   fourteen million, five hundred thousand dollars.
10     Sec. ___.  NEW SECTION.  427B.19C  PHASEOUT OF TAX.
11     Effective on July 1, 2002, all property taxes on
12   property defined in section 427A.1, subsection 1,
13   paragraphs "e" and "j", are repealed.  For assessment
14   years beginning on or after January 1, 2005, such
15   property shall not be listed or assessed.  This
16   section shall prevail over all inconsistent statutes.
17     Sec. ___.  NEW SECTION.  427B.19D  GUARANTEE OF
18   STATE REPLACEMENT FUNDS.
19     If for any reason an appropriation specified in
20   section 427B.19B is not made or the appropriation made
21   is less than that specified in section 427B.19B for
22   the applicable fiscal year, the director of revenue
23   and finance shall compute for each county the
24   difference between the total of all replacement claims
25   for taxing districts within the county and the amount
26   paid to the county treasurer for disbursement to the

Iowa General Assembly

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

© 1995 Cornell College and League of Women Voters of Iowa

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