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House Journal: Page 2156: Wednesday, May 1, 1996

Sec. 3.  Section 422.4, subsection 2, paragraph a, Code 1995, is
amended to read as follows:
a.  "Annual standard deduction factor" means an index, expressed
as a percentage, determined by the department by October 15 of
the calendar year preceding the calendar year for which the
factor is determined, which reflects the purchasing power of the
dollar as a result of inflation during the fiscal year ending in
the calendar year preceding the calendar year for which the
factor is determined.  In determining the annual standard
deduction factor, the department shall use the annual percent
change, but not less than zero percent, in the implicit price
deflator for the gross national product gross domestic
product price deflator computed for the second quarter of the
calendar year by the bureau of economic analysis of the United
States department of commerce and shall add one-half all
of that percent change to one hundred percent.  The annual
standard deduction factor and the cumulative standard deduction
factor shall each be expressed as a percentage rounded to the
nearest one-tenth of one percent.  The annual standard deduction
factor shall not be less than one hundred percent.
Sec. 4.  This division of this Act, being deemed of immediate
importance, takes effect upon enactment and applies to the
computation of the annual inflation factor and annual standard
deduction factor for calendar years beginning on or after
January 1, 1996.  The department of revenue and finance shall
adjust the annual inflation factor and annual standard deduction
factor previously computed for the 1996 calendar year to reflect
the change made in the computation of those factors in this Act.

DIVISION II
SCHOOL PROPERTY TAX
Sec. 5.  Section 257.1, subsection 2, unnumbered paragraph 2,
Code Supplement 1995, is amended to read as follows:
For the budget year commencing July 1, 1991 1996, and
for each succeeding budget year the regular program foundation
base per pupil is eighty-three eighty-seven and
five-tenths percent of the regular program state cost per
pupil, except that the regular program foundation base per pupil
for the portion of weighted enrollment that is additional
enrollment because of special education is seventy-nine percent
of the regular program state cost per pupil.  For the budget
year commencing July 1, 1991, and for each succeeding budget
year the special education support services foundation base is
seventy-nine percent of the special education support services
state cost per pupil.  The combined foundation base is the sum
of the regular program foundation base and the special education
support services foundation base.
Sec. 6.  This division of this Act, being deemed of immediate
importance, takes effect upon enactment and applies to the
computation of school foundation aid payable during school
budget years beginning on or after July 1, 1996.  
DIVISION III
HOMESTEAD, MILITARY, AND ELDERLY OR DISABLED
TAX CREDIT AND REIMBURSEMENT CLAIMS
Sec. 7.  Section 8.59, Code 1995, is amended to read as follows:
8.59  APPROPRIATIONS FREEZE.

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: Tue Jun 25 15:30:03 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/02100/02156.html
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