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House Journal: Page 1158: Monday, April 3, 1995

SEC. 7. Any change in a limit under section 4, 5, or 6 is
effective only for the specified fiscal year or years and does
not affect computation of the limit under section 1.
SEC. 8. Each government's total spending in a fiscal year shall
not exceed its spending limit, which is equal to the sum of its
(1) revenue limit for that year, adjusted for any change under
section 4, 5, or 6, or actual revenue, whichever is less; (2)
actual receipts in that year which are excluded from revenue by
section 2 or 3; and (3) net unspent funds carried over from the
preceding year.  "Spending" includes all outlays for all
purposes, unless expressly excluded by section 9.
SEC. 9. "Revenue" includes all receipts for a government's trust
funds for unemployment, retirement, medical, or other benefits,
but earnings of these trust funds are excluded from both revenue
and spending. "Spending" includes all payments and transfers
into these trust funds, and excludes payments out of these trust
funds for the purpose for which the payments into the trust fund
were made. "Net unspent funds" excludes these trust funds.
SEC. 10. If a new local government is created, the State shall
establish its base date and the amount of its beginning revenue
limit, and shall reduce the appropriate state or local revenue
limit or limits by that amount. If two or more local governments
are combined, their revenue limits shall be combined. If a
service or program is transferred by law among local
governments, their revenue limits shall be proportionally
adjusted by law, with no increase in the combined limits. The
State may transfer any part of its revenue limit to a local
government but shall not transfer any part of a local limit to
the State.
SEC. 11. If a state law or rule, or change in a state law or
rule, that takes effect after this Article becomes effective
requires a local government to incur a net cost increase, the
State shall pay to the local government the amount of the
necessary net cost increase, and shall increase the local
revenue limit and decrease the state revenue limit by that
amount. The local government need not comply with the law, rule,
or change until the State has complied with this section.
SEC. 12. Any state or local government plan for retirement or
other employee benefits shall be completely funded within ten
years after this Article becomes effective, and at all times
thereafter, in accordance with generally accepted actuarial and
accounting principles.
SEC. 13. The state and local governments shall use consistent
accounting, in accordance with generally accepted accounting
principles, for all purposes.

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/01100/01158.html
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