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House Journal: Page 1018: Wednesday, March 27, 1996

33   per thousand dollars of assessed value, the auditor
34   shall multiply the tax levy which is in excess of five
35   four dollars and forty fifteen cents per
thousand
36   dollars of assessed value by the total taxable value
37   of the agricultural lands entitled to credit in the
38   district, and on or before the first of June certify
39   the amount to the department of revenue and finance.
40     Sec. 19.
41     1.  Sections 11 through 14 of this division of this
42   Act, being deemed of immediate importance, take effect
43   upon enactment, and apply to the computation of school
44   foundation property taxes payable during school budget
45   years beginning on or after July 1, 1996.
46     2.  Sections 15 through 18 of this division of this
47   Act take effect January 1, 1997, and apply to the
48   computation of family farm tax credits and
49   agricultural land tax credits granted for property
50   taxes payable in school budget years beginning on or

Page   6

 1   after July 1, 1997."
 2     2.  Title page, by striking lines 1 through 17 and
 3   inserting the following:  "An Act relating to taxation
 4   within the state by changing the computation of the
 5   inflation factors for the tax brackets and standard
 6   deduction of the state individual income tax,
 7   exemptions from the state inheritance tax, and
 8   reducing the school district uniform levy for purposes
 9   of providing tax relief and providing effective and
10   retroactive and other applicability date provisions."
Wise of Lee offered the following amendment H-5652, to amendment
H-5523, filed by him and moved its adoption:

H-5652

 1     Amend the amendment, H-5523, to Senate File 2449,
 2   as amended, passed, and reprinted by the Senate, as
 3   follows:
 4     1.  Page 1, line 6, by striking the word
 5   "INDEXATION".
 6     2.  Page 2, by inserting after line 16 the
 7   following:
 8     "Sec. 100.  NEW SECTION.  422.120  LIVESTOCK
 9   PRODUCTION TAX CREDIT ALLOWED.
10     1.  a.  There is allowed a state tax credit for
11   livestock production operations located in the state.
12   The amount of the credit equals ten cents for each
13   corn equivalent consumed by the livestock in the
14   production operation as specified under this section.
15   The credit shall be refunded as provided in section
16   422.122.

Iowa General Assembly

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

© 1996 Cornell College and League of Women Voters of Iowa

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Last update: Thu Mar 28 13:30:02 CST 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01000/01018.html
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