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House Journal: Page 1017: Wednesday, March 27, 1996

33   budget from each school district for the previous
34   year, and the tax rate determined for the general fund
35   of the school district in the manner prescribed in
36   section 444.3 for the previous year, and if the tax
37   rate is in excess of five four dollars and forty
38   fifteen cents per thousand dollars of assessed value,
39   the auditor shall multiply the tax levy which is in
40   excess of five four dollars and forty
fifteen cents
41   per thousand dollars of assessed value by the total
42   taxable value of the agricultural land entitled to
43   credit in the school district, and on or before March
44   1, certify the total amount of credit and the total
45   number of acres entitled to the credit to the
46   department of revenue and finance.
47     Sec. 17.  Section 426.3, Code 1995, is amended to
48   read as follows:
49     426.3  WHERE CREDIT GIVEN.
50     The agricultural land credit fund shall be

Page   5

 1   apportioned each year in the manner hereinafter
 2   provided in this chapter so as to give a credit
 3   against the tax on each tract of agricultural lands
 4   within the several school districts of the state in
 5   which the levy for the general school fund exceeds
 6   five four dollars and forty fifteen cents
per thousand
 7   dollars of assessed value; the amount of such credit
 8   on each tract of such lands shall be the amount the
 9   tax levied for the general school fund exceeds the
10   amount of tax which would be levied on said the
tract
11   of such lands were the levy for the general school
12   fund five four dollars and forty fifteen
cents per
13   thousand dollars of assessed value for the previous
14   year, except in the case of a deficiency in the
15   agricultural land credits fund to pay said credits in
16   full, in which case the credit on each eligible tract
17   of such lands in the state shall be proportionate and
18   shall be applied as hereinafter provided in this
19   chapter.
20     Sec. 18.  Section 426.6, unnumbered paragraph 1,
21   Code 1995, is amended to read as follows:
22     The agricultural land tax credit allowed each year
23   shall be computed as follows:  On or before the first
24   of June the county auditor shall list by school
25   districts all tracts of agricultural lands which they
26   are entitled to credit, together with the taxable
27   value for the previous year, together with the budget
28   from each school district for the previous year, and
29   the tax rate determined for the general fund of the
30   district in the manner prescribed in section 444.3 for
31   the previous year, and if such the tax rate is in
32   excess of five four dollars and forty
fifteen cents

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Thu Mar 28 13:30:02 CST 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01000/01017.html
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