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Text: HF00630                           Text: HF00632
Text: HF00600 - HF00699                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index



House File 631

Partial Bill History

Bill Text

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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