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House Journal: Page 922: Wednesday, March 22, 1995

28     b.  On forms provided by the department of
29   management, the taxing district shall request an
30   amount not exceeding the product of the decrease in
31   assessed valuation for the fiscal year for which the
32   application is filed compared to the assessed
33   valuation in the previous fiscal year, as determined
34   pursuant to subsection 3, and the property tax rate
35   applied in the previous fiscal year, less any property
36   tax replacement funds received pursuant to section
37   427B.19A in the previous fiscal year.  The taxing
38   district shall also submit with the application the
39   district's plan to improve its future budget position.
40     c.  Claims approved by the state appeal board shall
41   be paid to the taxing district by October 1 following
42   submission of the application for funds.
43     3.  To be eligible to receive funds under this
44   section, a taxing district must show that there has
45   been a decrease of more than three percent in the
46   assessed valuation for taxes payable in the fiscal
47   year for which the application is submitted compared
48   to the assessed valuation for taxes payable in the
49   previous fiscal year, which decrease is attributable
50   to the elimination of the property tax on industrial

Page  11

 1   machinery, equipment and computers pursuant to section
 2   427B.17.  The taxing district, to be eligible for
 3   funds, must also show that the district has exhausted
 4   all other lawful alternatives for improving the
 5   district's budget position.
 6     4.  If the amount appropriated in this section is
 7   insufficient to pay all applications approved, the
 8   director of revenue and finance shall prorate the
 9   disbursements from the relief fund and shall report
10   the amount of the shortfall to the director of the
11   department of management.  By January 1 of the
12   following year, the director of the department of
13   management shall submit to the general assembly a plan
14   for the funding of approved applications that were not
15   fully funded in that fiscal year.
16     5.  Amounts received pursuant to this section shall
17   not be considered property tax dollars certified for
18   purposes of the property tax limitation in chapter
19   444.
20     6.  The department of revenue and finance and the
21   department of management shall adopt rules necessary
22   to implement this section.
23                         DIVISION IV
24                         INCOME TAX
25     Sec. ___.  Section 422.7, Code 1995, is amended by
26   adding the following new subsection:
27     NEW SUBSECTION.  33.  For a person who is disabled,
28   or is fifty-five years of age or older, or is the

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/00900/00922.html
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