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House Journal: Page 2004: Thursday, April 27, 1995

Page 13
 1     a.  One-third based upon the county's proportion of
 2   the state's general population.
 3     b.  One-third based upon the county's proportion of
 4   the state's total taxable property valuation assessed
 5   for taxes payable in the previous fiscal year.
 6     c.  One-third based upon the county's proportion of
 7   all counties' base year expenditures, as defined in
 8   section 331.438.
 9     Moneys provided to a county for property tax relief
10   in a fiscal year in accordance with this section shall
11   not be less than the amount provided for property tax
12   relief in the previous fiscal year.
13     2.  Payment of moneys to eligible counties of the
14   state payment in accordance with the provisions of
15   sections 331.438 and 331.439.
16     3.  For the fiscal year beginning July 1, 1996, and
17   succeeding fiscal years, the department of human
18   services shall estimate the amount of moneys required
19   for the state payment pursuant to subsection 2.
20   Moneys remaining in the property tax relief fund
21   following the payment made pursuant to subsection 1
22   and the estimated amount of the state payment pursuant
23   to subsection 2 shall be paid for property tax relief
24   in the same manner as provided in subsection 1 to
25   counties eligible for state payment under subsection
26   2.  These payments shall continue until the combined
27   amount of the payments made under this subsection and
28   subsection 1 are equal to fifty percent of the total
29   of all counties' base year expenditures as defined in
30   section 331.438.  The amount of moneys paid to a
31   county pursuant to this subsection shall be added in
32   subsequent fiscal years to the amount of moneys paid
33   under subsection 1.
34     4.  Moneys remaining in the property tax relief
35   fund following the payments made pursuant to
36   subsections 1, 2, and 3 shall be transferred to the
37   homestead credit fund created in section 425.1.  This
38   transfer shall continue until the homestead credit is
39   fully funded.
40     5.  The department of human services shall notify
41   the director of revenue and finance of the amounts due
42   a county in accordance with the provisions of this
43   section.  The director of revenue and finance shall
44   draw warrants on the property tax relief fund, payable
45   to the county treasurer in the amount due to a county
46   in accordance with subsections 1 and 3 and mail the
47   warrants to the county auditors in September and March
48   of each year.  Warrants for the state payment in
49   accordance with subsection 2 shall be mailed in
50   January of each year.

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/02000/02004.html
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