Text: HF00630 Text: HF00632 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 99F.11, Code 1997, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 2A. If a city or a county which receives 1 4 tax revenue pursuant to subsection 1 or 2, adopts a resolution 1 5 requesting an allocation of tax money for school district 1 6 infrastructure purposes within its jurisdiction, an additional 1 7 nine and one-half percent of the adjusted gross receipts shall 1 8 be allocated to the school districts designated by the city or 1 9 county. The resolution shall indicate the portion of the nine 1 10 and one-half percent of the adjusted gross receipts which 1 11 shall be allocated to each of the school districts located in 1 12 all or part of the city or the county. The resolution shall 1 13 be sent to the department of revenue and finance and the 1 14 director of revenue and finance shall allocate the tax revenue 1 15 to the affected school districts. A city or county may renew 1 16 or amend the tax allocation plan annually. The revenue 1 17 allocated to each school district shall be credited to the 1 18 physical plant and equipment levy fund of the school district 1 19 and used for the purposes authorized for the proceeds of the 1 20 fund. 1 21 EXPLANATION 1 22 This bill provides that a city or a county which receives 1 23 revenue from the adjusted gross receipts tax on excursion 1 24 gambling boats or racetrack enclosures, may adopt a resolution 1 25 requesting an additional 9.5 percent of the adjusted gross 1 26 receipts to be allocated to school districts with the city's 1 27 or county's jurisdiction. The resolution adopted by a city or 1 28 county shall provide an allocation formula for the various 1 29 school districts with the city or county. The revenue 1 30 allocated to the school districts shall be credited to the 1 31 physical plant and equipment levy fund of each school district 1 32 to be used for infrastructure needs of the school district. 1 33 LSB 2592YH 77 1 34 tj/jw/5
Text: HF00630 Text: HF00632 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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