Text: HSB00239 Text: HSB00241 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 DIVISION I 1 2 LIVESTOCK PRODUCTION TAX CREDIT 1 3 Section 1. Section 422.120, subsection 1, paragraph b, 1 4 unnumbered paragraph 1, Code 1997, is amended to read as 1 5 follows: 1 6 The credit shall be available to an individual or corporate 1 7 taxpayer who owns livestock, if all of the following apply:. 1 8 Sec. 2. Section 422.120, subsection 1, paragraph b, 1 9 subparagraphs (1) and (2), Code 1997, are amended by striking 1 10 the subparagraphs. 1 11 Sec. 3. Section 422.120, Code 1997, is amended by adding 1 12 the following new subsection: 1 13 NEW SUBSECTION. 2A. As used in this division, "cow-calf 1 14 operation" means any of the following: 1 15 a. Mature beef cows bred or for breeding. 1 16 b. Bred yearling heifers. 1 17 c. Breeding bulls. 1 18 Sec. 4. Section 422.121, Code 1997, is amended to read as 1 19 follows: 1 20 422.121 APPROPRIATION. 1 21Beginning withFor the fiscal year beginning July 1, 1997, 1 22 there is appropriatedannuallyfrom the general fund of the 1 23 state two million dollars to refund the credits allowed under 1 24 this division. Beginning with the fiscal year beginning July 1 25 1, 1998, there is appropriated annually from the general fund 1 26 of the state twelve million dollars to refund the credits 1 27 allowed under this division. 1 28 Notwithstanding section 422.120, for the tax year beginning 1 29 on January 1, 1997, the livestock production tax credit shall 1 30 only be allowed for cow-calf beef operations. Notwithstanding 1 31 section 422.120, for a tax year beginning on or after January 1 32 1, 1998, and for each subsequent tax year, the livestock 1 33 production tax credit shall only be allowed for cow-calf beef 1 34 operations, farrow-to-feeder pig operations, and dairy cattle 1 35 operations. This paragraph shall not apply to any tax year 2 1 for which thirteen million dollars or more has been 2 2 appropriated by the general assembly under this section and 2 3 otherwise in order to satisfy claims by livestock production 2 4 operations as provided in section 422.120. 2 5 DIVISION II 2 6 HOMESTEAD, MILITARY, LOW-INCOME, ELDERLY AND DISABLED 2 7 AND OTHER CREDITS AND REIMBURSEMENT CLAIMS 2 8 Sec. 5. NEW SECTION. 25B.7 FUNDING PROPERTY TAX CREDITS 2 9 AND EXEMPTIONS. 2 10 1. Beginning with property taxes due and payable in the 2 11 fiscal year beginning July 1, 1998, the cost of providing a 2 12 property tax credit or property tax exemption which is enacted 2 13 by the general assembly on or after January 1, 1997, shall be 2 14 fully funded by the state. If a state appropriation made to 2 15 fund a credit or exemption which is enacted on or after 2 16 January 1, 1997, is not sufficient to fully fund the credit or 2 17 exemption, the political subdivision shall be required to 2 18 extend to the taxpayer only that portion of the credit or 2 19 exemption estimated by the department of revenue and finance 2 20 to be funded by the state appropriation. The department of 2 21 revenue and finance shall determine by June 15 the estimated 2 22 portion of the credit or exemption which will be funded by the 2 23 state appropriation. 2 24 2. The requirement for fully funding and the consequences 2 25 of not fully funding credits and exemptions under subsection 1 2 26 also apply to all of the following: 2 27 a. Homestead tax credit pursuant to sections 425.1 through 2 28 425.15. 2 29 b. Low-income property tax credit and elderly and disabled 2 30 property tax credit pursuant to sections 425.16 through 2 31 425.40. 2 32 c. Military service property tax credit and exemption 2 33 pursuant to chapter 426A and sections 427.3 through 427.7, to 2 34 the extent of six dollars and seventy-five cents per thousand 2 35 dollars of assessed value of the exempt property. 3 1 3. a. For purposes of this subsection, "base 3 2 reimbursement amount" means the amount in dollars received for 3 3 the fiscal year beginning July 1, 1996, by a city, county, or 3 4 school district from the state as a reimbursement for the 3 5 homestead tax credit, military service property tax credit, 3 6 low-income property tax credit, or the elderly and disabled 3 7 property tax credit, as appropriate. The county treasurer 3 8 shall determine the base reimbursement amount for the cities, 3 9 county, and school districts for each credit. The treasurer 3 10 shall notify the department of management of the base 3 11 reimbursement amounts for each credit of each school district. 3 12 b. The amount of state reimbursement received for a fiscal 3 13 year beginning on or after July 1, 1997, by a city, county, or 3 14 school district for the homestead tax credit, military service 3 15 property tax credit, low-income property tax credit, or 3 16 elderly and disabled property tax credit in excess of the base 3 17 reimbursement amount for that credit shall be used as follows: 3 18 (1) In the case of a city, at least fifty percent shall be 3 19 used for property tax relief with the remaining amount used 3 20 for infrastructure. 3 21 (2) In the case of a county, at lease fifty percent shall 3 22 be used for property tax relief with the remaining amount used 3 23 for infrastructure or for paying the expenses incurred in 3 24 providing the statement and receipt required under section 3 25 445.5. 3 26 (3) In the case of a school district, one hundred percent 3 27 shall be used for property tax relief through the reduction in 3 28 the additional levy under section 257.4. Each county 3 29 treasurer shall provide the department of management with the 3 30 total amount of excess tax credit reimbursement received by 3 31 each school district in the county. 3 32 c. The requirements of paragraph "b" do not constitute a 3 33 state mandate under this chapter. 3 34 Sec. 6. Section 8.59, Code 1997, is amended to read as 3 35 follows: 4 1 8.59 APPROPRIATIONS FREEZE. 4 2 Notwithstanding contrary provisions of the Code, the 4 3 amounts appropriated under the applicable sections of the Code 4 4 for fiscal years commencing on or after July 1, 1993, are 4 5 limited to those amounts expended under those sections for the 4 6 fiscal year commencing July 1, 1992. If an applicable section 4 7 appropriates moneys to be distributed to different recipients 4 8 and the operation of this section reduces the total amount to 4 9 be distributed under the applicable section, the moneys shall 4 10 be prorated among the recipients. As used in this section, 4 11 "applicable sections" means the following sections: 53.50, 4 12 229.35, 230.8, 230.11, 405A.8, 411.20,425.1, 425.39, 426A.1,4 13 663.44, and 822.5. 4 14 Sec. 7. Section 425.2, unnumbered paragraphs 2 and 6, Code 4 15 1997, are amended to read as follows: 4 16 Upon the filing and allowance of the claim, the claim shall 4 17 be allowed on that homestead for successive years without 4 18 further filing as long as the property is legally or equitably 4 19 owned and used as a homestead by that person or that person's 4 20 spouse on July 1 of each of those successive years, and the 4 21 owner of the property being claimed as a homestead declares 4 22 residency in Iowa for purposes of income taxation, and the 4 23 property is occupied by that person or that person's spouse 4 24 for at least six months in each of those calendar years in 4 25 which the fiscal year begins. When the property is sold or 4 26 transferred, the buyer or transferee who wishes to qualify 4 27 shall refile for the credit. However, when the property is 4 28 transferred as part of a distribution made pursuant to chapter 4 29 598, the transferee who is the spouse retaining ownership of 4 30 the property is not required to refile for the credit. 4 31 Property divided pursuant to chapter 598 shall not be modified 4 32 following the division of the property. An owner who ceases 4 33 to use a property for a homestead or intends not to use it as 4 34 a homestead for at least six months in a calendar year shall 4 35 provide written notice to the assessor by July 1 following the 5 1 date on which the use is changed.If the written notice is5 2not provided to the assessor by the appropriate July 1, the5 3owner forfeits the right to file a belated claim on another5 4homestead for the year the notice should have been given.A 5 5 person who sells or transfers a homestead or the personal 5 6 representative of a deceased person who had a homestead at the 5 7 time of death, shall provide written notice to the assessor 5 8 that the property is no longer the homestead of the former 5 9 claimant. 5 10The failure of a person to file a claim under this section5 11on or before July 1 of the year for which the person is first5 12claiming the credit or to have the evidence of ownership5 13recorded in the office of the county recorder does not5 14disqualify the claim if the person claiming the credit or5 15through whom the credit is claimed is otherwise qualified.5 16The belated claim shall be filed with the appropriate assessor5 17on or before December 31 of the following calendar year and,5 18if approved by the board of supervisors, the county treasurer5 19shall submit the belated claim to the director of revenue and5 20finance who shall send payment to the claimant. The payment5 21shall be made from funds appropriated to the homestead credit5 22fund.5 23 Sec. 8. Section 425.39, subsection 1, Code 1997, is 5 24 amended to read as follows: 5 251.Theextraordinaryelderly and disabled property tax 5 26 credit and reimbursement fund is created. There is 5 27 appropriated annually from the general fund of the state to 5 28 the department of revenue and finance to be credited to the 5 29extraordinaryelderly and disabled property tax credit and 5 30 reimbursement fund, from funds not otherwise appropriated, an 5 31 amount sufficient to implement this division for claimants 5 32 described in section 425.17, subsection 2, paragraph "a". 5 33 Sec. 9. Section 425.39, subsection 2, Code 1997, is 5 34 amended by striking the subsection. 5 35 Sec. 10. Section 427.5, unnumbered paragraph 5, Code 1997, 6 1 is amended by striking the unnumbered paragraph. 6 2 Sec. 11. Sections 6, 8, and 9 of this division of this Act 6 3 apply to reimbursements made for property tax credits and to 6 4 reimbursements for rent constituting property taxes payable on 6 5 or after July 1, 1997. 6 6 DIVISION III 6 7 LOCAL GOVERNMENT BUDGETING PRACTICES 6 8 Sec. 12. Section 24.9, unnumbered paragraph 1, Code 1997, 6 9 is amended to read as follows: 6 10 Each municipality shall file with the secretary or clerk 6 11 thereof the estimates required to be made in sections 24.3 to 6 12 24.8, at least twenty days before the date fixed by law for 6 13 certifying the same to the levying board and shall forthwith 6 14 fix a date for a hearing thereon, and shall publish such 6 15 estimates and any annual levies previously authorized as 6 16 provided in section 76.2, with a notice of the time when and 6 17 the place where such hearing shall be heldat leastnot less 6 18 than ten nor more than twenty days before the hearing. 6 19 Provided that in municipalities of less than two hundred 6 20 population such estimates and the notice of hearing thereon 6 21 shall be posted in three public places in the district in lieu 6 22 of publication. 6 23 Sec. 13. Section 24.9, Code 1997, is amended by adding the 6 24 following new unnumbered paragraph: 6 25 NEW UNNUMBERED PARAGRAPH. The department of management 6 26 shall prescribe the form for public hearing notices for use by 6 27 municipalities. 6 28 Sec. 14. Section 24.17, Code 1997, is amended to read as 6 29 follows: 6 30 24.17 BUDGETS CERTIFIED. 6 31 The local budgets of the various political subdivisions 6 32 shall be certified by the chairperson of the certifying board 6 33 or levying board, as the case may be, in duplicate to the 6 34 county auditor not later than March 15 of each year onblanks6 35 forms, and pursuant to instructions, prescribed by thestate7 1board, and according to the rules and instruction which shall7 2be furnished all certifying and levying boards in printed form7 3by the state board or city finance committee in the case of7 4citiesdepartment of management.However, if a city or county7 5holds a special levy election, the certification shall be not7 6later than fourteen days following the special levy election,7 7and if the political subdivision is a school district, as7 8defined in section 257.2, its budget shall be certified not7 9later than April 15 of each year.7 10 One copy of the budget shall be retained on file in the 7 11 office by the county auditor and the other shall be certified 7 12 by the county auditor to the state board. The department of 7 13 management shall certify the local budgets back to the county 7 14 auditor by June 15. 7 15 Sec. 15. Section 24.27, Code 1997, is amended to read as 7 16 follows: 7 17 24.27 PROTEST TO BUDGET. 7 18 Not later than March 25or April 25 if the municipality is7 19a school district, a number of persons in any municipality 7 20 equal to one-fourth of one percent of those voting for the 7 21 office of governor, at the last general election in the 7 22 municipality, but the number shall not be less than ten, and 7 23 the number need not be more than one hundred persons, who are 7 24 affected by any proposed budget, expenditure or tax levy, or 7 25 by any item thereof, may appeal from any decision of the 7 26 certifying board or the levying board by filing with the 7 27 county auditor of the county in which the municipal 7 28 corporation is located, a written protest setting forth their 7 29 objections to the budget, expenditure or tax levy, or to one 7 30 or more items thereof, and the grounds for their objections. 7 31 If a budget is certified after March 15or April 15 in the7 32case of a school district, all appeal time limits shall be 7 33 extended to correspond to allowances for a timely filing. 7 34 Upon the filing of a protest, the county auditor shall 7 35 immediately prepare a true and complete copy of the written 8 1 protest, together with the budget, proposed tax levy or 8 2 expenditure to which objections are made, and shall transmit 8 3 them forthwith to the state board, and shall also send a copy 8 4 of the protest to the certifying board or to the levying 8 5 board, as the case may be. 8 6 Sec. 16. Section 76.2, unnumbered paragraph 2, Code 1997, 8 7 is amended to read as follows: 8 8 If the resolution is filed prior to April 1or May 1, if8 9the political subdivision is a school district, the annual 8 10 levy shall begin with the tax levy for collection commencing 8 11 July 1 of that year. If the resolution is filed after April 1 8 12or May 1, in the case of a school district, the annual levy 8 13 shall begin with the tax levy for collection in the next 8 14 succeeding fiscal year. However, the governing authority of a 8 15 political subdivision may adjust a levy of taxes made under 8 16 this section for the purpose of adjusting the annual levies 8 17 and collections for property severed from the political 8 18 subdivision, subject to the approval of the director of the 8 19 department of management. 8 20 Sec. 17. Section 257.19, unnumbered paragraph 2, Code 8 21 1997, is amended to read as follows: 8 22 Certification of a board's intent to participate for a 8 23 budget year, the method of funding, and the amount to be 8 24 raised shall be made to the department of management not later 8 25 thanAprilMarch 15 of the base year. Funding for the 8 26 instructional support program shall be obtained from 8 27 instructional support state aid and from local funding using 8 28 either an instructional support property tax or a combination 8 29 of an instructional support property tax and an instructional 8 30 support income surtax. 8 31 Sec. 18. Section 257.29, unnumbered paragraph 2, Code 8 32 1997, is amended to read as follows: 8 33 The educational improvement program shall provide 8 34 additional revenues each fiscal year equal to a specified 8 35 percent of the regular program district cost of the district, 9 1 as determined by the board but not more than the maximum 9 2 percent authorized by the electors if an election has been 9 3 held. Certification of a district's participation for a 9 4 budget year, the method of funding, and the amount to be 9 5 raised shall be made to the department of management not later 9 6 thanAprilMarch 15 of the base year. 9 7 Sec. 19. Section 275.29, Code 1997, is amended to read as 9 8 follows: 9 9 275.29 DIVISION OF ASSETS AND LIABILITIES AFTER 9 10 REORGANIZATION. 9 11 Between July 1 and July 20, the board of directors of the 9 12 newly formed school district shall meet with the boards of the 9 13 school districts affected by the organization of the new 9 14 school corporation, including the boards of districts 9 15 receiving territory of the school districts affected, for the 9 16 purpose of reaching joint agreement on an equitable division 9 17 of the assets of the several school corporations or parts of 9 18 school corporations and an equitable distribution of the 9 19 liabilities of the affected corporations or parts of 9 20 corporations. In addition, if outstanding bonds are in 9 21 existence in any district, the initial board of directors of 9 22 the newly formed school district shall meet with the boards of 9 23 all school districts affected prior toAprilMarch 15 prior to 9 24 the school year the reorganization is effective to determine 9 25 the distribution of the bonded indebtedness between the 9 26 districts so that the newly formed district may certify its 9 27 budget under the procedures specified in chapter 24. The 9 28 boards shall consider the mandatory levy required in section 9 29 76.2 and shall assure the satisfaction of outstanding 9 30 obligations of each affected school corporation. If the 9 31 petition includes plans for the distribution of the bonded 9 32 indebtedness, the exclusion of territory from the reorganized 9 33 district does not require action pursuant to this section. 9 34 Sec. 20. Section 279.54, unnumbered paragraph 1, Code 9 35 1997, is amended to read as follows: 10 1 If a majority of those voting in an election approves 10 2 raising the additional enrichment amount for an asbestos 10 3 project under section 279.53 and this section, not later than 10 4AprilMarch 15 of the previous school year the board shall 10 5 certify to the department of management that the required 10 6 procedures have been carried out, the method of funding the 10 7 amount to be raised, and the department of management shall 10 8 establish the amount of additional enrichment property tax to 10 9 be levied or the amount of the combination of the enrichment 10 10 property tax and the amount of enrichment income surtax to be 10 11 imposed for each school year for which the additional 10 12 enrichment amount for an asbestos project is authorized. The 10 13 enrichment property tax and income surtax, if an income surtax 10 14 is imposed, shall be levied and imposed, collected, and paid 10 15 to the school district in the manner provided for the 10 16 instructional support program in sections 257.21 through 10 17 257.26. 10 18 Sec. 21. Section 298.2, subsection 2, Code 1997, is 10 19 amended to read as follows: 10 20 2. The board of directors of a school district may certify 10 21 for levy byAprilMarch 15 of a school year a tax on all 10 22 taxable property in the school district for the regular 10 23 physical plant and equipment levy. 10 24 Sec. 22. Section 298.2, subsection 3, unnumbered paragraph 10 25 2, Code 1997, is amended to read as follows: 10 26 If a combination of a property tax and income surtax is 10 27 used, byAprilMarch 15 of the previous school year, the board 10 28 shall certify the percent of the income surtax to be imposed 10 29 and the amount to be raised to the department of management 10 30 and the department of management shall establish the rate of 10 31 the property tax and income surtax for the school year. The 10 32 physical plant and equipment property tax and income surtax 10 33 shall be levied or imposed, collected, and paid to the school 10 34 district in the manner provided for the instructional support 10 35 program in sections 257.21 through 257.26. 11 1 Sec. 23. Section 298.4, unnumbered paragraph 1, Code 1997, 11 2 is amended to read as follows: 11 3 The board of directors of a school district may certify for 11 4 levy byAprilMarch 15 of a school year, a tax on all taxable 11 5 property in the school district for a district management 11 6 levy. The revenue from the tax levied in this section shall 11 7 be placed in the district management levy fund of the school 11 8 district. The district management levy shall be expended only 11 9 for the following purposes: 11 10 Sec. 24. Section 298.10, Code 1997, is amended to read as 11 11 follows: 11 12 298.10 LEVY FOR CASH RESERVE. 11 13 The board of directors of a school district may certify for 11 14 levy byAprilMarch 15 of a school year, a tax on all taxable 11 15 property in the school district in order to raise an amount 11 16 for a necessary cash reserve for a school district's general 11 17 fund. The amount raised for a necessary cash reserve does not 11 18 increase a school district's authorized expenditures as 11 19 defined in section 257.7. 11 20 Sec. 25. Section 300.2, unnumbered paragraph 2, Code 1997, 11 21 is amended to read as follows: 11 22 If a majority of the votes cast upon the proposition is in 11 23 favor of the proposition, the board shall certify the amount 11 24 required for a fiscal year to the county board of supervisors 11 25 byAprilMarch 15 of the preceding fiscal year. The board of 11 26 supervisors shall levy the amount certified. The amount shall 11 27 be placed in the public education and recreation levy fund of 11 28 the district and shall be used only for the purposes specified 11 29 in this chapter. 11 30 Sec. 26. Section 331.403, subsection 1, Code 1997, is 11 31 amended to read as follows: 11 32 1. Not later thanOctoberDecember 1 of each year on forms 11 33 and pursuant to instructions prescribed by the department of 11 34 management, a county shall prepare an annual financial report 11 35 showing for each county fund the financial condition as of 12 1 June 30 and the results of operations for the year then ended. 12 2 Copies of the report shall be maintained as a public record at 12 3 the auditor's office and shall befurnished tofiled with the 12 4 director of the department of management andtowith the 12 5 auditor of state by December 1. A summary of the report, in a 12 6 form prescribed by the director, shall be published by each 12 7 county not later thanOctoberDecember 1 of each year in one 12 8 or more newspapers which meet the requirements of section 12 9 618.14. 12 10 Sec. 27. Section 331.403, subsection 3, Code 1997, is 12 11 amended by striking the subsection and inserting in lieu 12 12 thereof the following: 12 13 3. A county that fails to meet the filing deadline imposed 12 14 by this section shall have withheld from payments to be made 12 15 to the county pursuant to chapter 405A an amount equal to five 12 16 cents per capita until the financial report is filed. 12 17 Sec. 28. Section 331.434, subsection 3, Code 1997, is 12 18 amended to read as follows: 12 19 3. The board shall set a time and place for a public 12 20 hearing on the budget before the final certification date and 12 21 shall publish notice of the hearing not less than ten nor more 12 22 than twenty days prior to the hearing in the county newspapers 12 23 selected under chapter 349. A summary of the proposed budget, 12 24 in the form prescribed by the director of the department of 12 25 management, shall be included in the notice. Proof of 12 26 publication shall be filed with and preserved by the auditor. 12 27 A levy is not valid unless and until the notice is published 12 28 and filed. The department of management shall prescribe the 12 29 form for the public hearing notice for use by counties. 12 30 Sec. 29. Section 331.434, Code 1997, is amended by adding 12 31 the following new subsection: 12 32 NEW SUBSECTION. 7. Taxes levied by a county whose budget 12 33 is certified after March 15 shall be limited to the prior 12 34 year's budget amount. However, this penalty may be waived by 12 35 the director of the department of management if the county 13 1 demonstrates that the March 15 deadline was missed because of 13 2 circumstances beyond the control of the county. 13 3 Sec. 30. NEW SECTION. 331.434A BUDGET RESERVE. 13 4 1. For the fiscal year beginning July 1, 1998, and all 13 5 subsequent fiscal years, the amount of a county's budget 13 6 reserve shall not exceed an amount equal to thirty percent of 13 7 the amount of property taxes certified for collection for the 13 8 previous fiscal year. If the amount of the budget reserve for 13 9 any fiscal year exceeds an amount equal to thirty percent of 13 10 the amount of property taxes certified for collection for the 13 11 previous fiscal year, the amount of property taxes to be 13 12 levied by the county shall be decreased by the amount in 13 13 excess of thirty percent. 13 14 2. The county finance committee may waive the application 13 15 of this section to a county for up to a three-year period, if 13 16 evidence is presented that substantial progress is being made 13 17 by the county toward compliance with this section. 13 18 3. For purposes of this section, "budget reserve" means 13 19 the sum of all unreserved and unencumbered funds, which are 13 20 not officially designated for specific uses, remaining in the 13 21 general fund of the county on June 30 of the fiscal year, 13 22 excluding transfers to other county funds. 13 23 Sec. 31. Section 331.439, subsection 1, paragraph a, Code 13 24 1997, is amended to read as follows: 13 25 a. The county accurately reported byOctober 15December 1 13 26 the county's expenditures for mental health, mental 13 27 retardation, and developmental disabilities services for the 13 28 previous fiscal year on forms prescribed by the department of 13 29 human services. 13 30 Sec. 32. Section 384.16, subsection 3, Code 1997, is 13 31 amended to read as follows: 13 32 3. The council shall set a time and place for public 13 33 hearing on the budget before the final certification date and 13 34 shall publish notice of the hearing not less than ten nor more 13 35 than twenty days before the hearingas provided in section14 1362.3in a newspaper published at least once weekly and having 14 2 general circulation in the city. However, if the city has a 14 3 population of two hundred or less, publication may be made by 14 4 posting in three public places in the city. A summary of the 14 5 proposed budget shall be included in the notice. Proof of 14 6 publication must be filed with the county auditor. The 14 7 department of management shall prescribe the form for the 14 8 public hearing notice for use by cities. 14 9 Sec. 33. Section 384.16, Code 1997, is amended by adding 14 10 the following new subsection: 14 11 NEW SUBSECTION. 6. Taxes levied by a city whose budget is 14 12 certified after March 15 shall be limited to the prior year's 14 13 budget amount. However, this penalty may be waived by the 14 14 director of the department of management if the city 14 15 demonstrates that the March 15 deadline was missed because of 14 16 circumstances beyond the control of the city. 14 17 Sec. 34. Section 445.5, Code 1997, is amended to read as 14 18 follows: 14 19 445.5 STATEMENT AND RECEIPT. 14 20 1. As soon as practicable after receiving the tax list 14 21 prescribed in chapter 443, the treasurer shall deliver to the 14 22 taxpayer a statement of taxes due and payable which shall 14 23 include the following information: 14 24 a. The year of tax. 14 25 b. A description of the parcel. 14 26 c. The assessed value of the parcel, itemized by the value 14 27 for land, dwellings, and buildings, for the current year and 14 28 the previous year as valued by the assessor after application 14 29 of any equalization orders. 14 30 d. The taxable value of the parcel, itemized by the value 14 31 for land, dwellings, and buildings, for the current year and 14 32 the previous year after application of any equalization 14 33 orders, assessment limitations, and itemized valuation 14 34 exemptions. 14 35 e. The complete name of all taxing authorities receiving a 15 1 tax distribution, the amount of the distribution, and the 15 2 percentage distribution for each named authority, listed from 15 3 the highest to the lowest distribution percentage. 15 4 f. The consolidated levy rate for one thousand dollars of 15 5 taxable valuation multiplied by the taxable valuation to 15 6 produce the gross taxes levied before application of credits 15 7 against levied taxes for the previous and current fiscal 15 8 years. 15 9 g. The itemized credits against levied taxes deducted from 15 10 the gross taxes levied in order to produce the net taxes owned 15 11 for the previous and current fiscal years. 15 12 h. The amount of property tax dollars reduced on each 15 13 parcel as a result of the moneys received from the property 15 14 tax relief fund pursuant to section 426B.2, subsections 1 and 15 15 3. 15 16 i. The total amount of taxes levied by each taxing 15 17 authority in the previous fiscal year and the current fiscal 15 18 year, the dollar amount difference between the two amounts, 15 19 and that same difference expressed as a percentage increase or 15 20 decrease. 15 21 If the person receiving the statement is not the 15 22 titleholder of record or contract holder of record of the 15 23 parcel, that person shall pay a fee at the rate of two dollars 15 24 per parcel for each year. The treasurer shall at the same 15 25 time deliver to the titleholder of record or contract holder 15 26 of record a copy of the statement. 15 27 2. The county treasurer shall deliver to the taxpayer a 15 28 receipt stating the year of tax, date of payment, a 15 29 description of the parcel, and the amount of taxes, interest, 15 30 fees, and costs paid except when payment of taxes is made by 15 31 check, then a receipt shall be issued only upon request. The 15 32 receipt shall be in full of the first half, second half, or 15 33 full year amounts unless a payment is made under section 15 34 445.36A or 435.24, subsection 6. 15 35 Sec. 35. TAX STATEMENT STUDY COMMITTEE. 16 1 1. There is established a tax statement study committee 16 2 comprised of the members of the county finance committee and 16 3 three county treasurers appointed by the governor in 16 4 consultation with the Iowa state treasurers association. 16 5 2. The committee shall study the following: 16 6 a. The fiscal impact of implementing redesigned property 16 7 tax statements as required in section 445.5. 16 8 b. Identification of the impediments involved in requiring 16 9 the tax statement in section 445.5. 16 10 c. The technological impact of implementing the property 16 11 tax statement required in section 445.5. 16 12 d. The recommended design of the property tax statement 16 13 required in section 445.5. 16 14 e. A process by which counties and the state can achieve 16 15 the goal of providing a uniform tax statement design to be 16 16 used statewide. 16 17 3. The committee shall furnish a report of its study to 16 18 the general assembly in January 1998. 16 19 Sec. 36. APPLICABILITY DATES. Section 34 of this division 16 20 of this Act, amending section 445.5, applies to tax statements 16 21 issued for the fiscal year beginning July 1, 2001. The 16 22 remainder of this division of this Act applies to budgets 16 23 prepared for fiscal years beginning on or after July 1, 1998. 16 24 EXPLANATION 16 25 Division I amends Code section 422.120 which provides for a 16 26 state tax credit for livestock production operations located 16 27 in the state. A $2 million standing appropriation is used to 16 28 support the tax credit. The amount of the credit equals 10 16 29 cents for each corn equivalent consumed by the livestock in 16 30 the production operation. The section provides that the 16 31 credit is available to an individual or corporate taxpayer who 16 32 owns livestock if the total net worth of the taxpayer during 16 33 the taxpayer's tax year is less than $1 million and the 16 34 taxpayer receives, or accrues in the case of an accrual-basis 16 35 taxpayer, more than one-half of the taxpayer's gross income 17 1 from farming or ranching operations during the tax year. This 17 2 division eliminates these net worth and gross income 17 3 requirements. The division increases the annual standing 17 4 appropriation to $12 million beginning with the fiscal year 17 5 1998-1999. The division provides that for the tax year 17 6 beginning on January 1, 1997, the tax credit shall only be 17 7 allowed for cow-calf beef operations. For a tax year 17 8 beginning on or after January 1, 1998, and for each subsequent 17 9 tax year, the tax credit is only allowed for cow-calf beef 17 10 operations, farrow-to-feeder pig operations, and dairy cattle 17 11 operations, unless for any tax year $13 million or more is 17 12 available to support the tax credit. 17 13 Division II provides that beginning with property taxes 17 14 payable in the fiscal year beginning July 1, 1998, the cost of 17 15 providing property tax credits or reimbursements which are 17 16 enacted on or after January 1, 1997, shall be fully funded by 17 17 the state. If the state does not fully fund this cost, then 17 18 the taxpayer will receive only a portion of the credit or 17 19 exemption to the extent the exemption or credit is funded. 17 20 The portion the taxpayer would receive is an estimate made by 17 21 the department of revenue and finance. This also applies to 17 22 the homestead credit; low-income additional homestead credit; 17 23 elderly and disabled additional homestead credit; and military 17 24 service tax credit but only to the extent of $6.75 per $1,000 17 25 of assessed value. 17 26 State reimbursements to local governments for the homestead 17 27 credit; the elderly and disabled additional homestead credit 17 28 and rent reimbursement; and the military service credit were 17 29 frozen beginning with the fiscal year 1992-1993 at the fiscal 17 30 year 1991-1992 levels. The division eliminates the freeze and 17 31 provides for standing unlimited appropriations for these 17 32 credits and reimbursements. These reimbursements apply to 17 33 reimbursements made on or after July 1, 1997. 17 34 Beginning with the fiscal year beginning July 1, 1997, the 17 35 amount of reimbursements in excess of the dollar amount of 18 1 reimbursements for the fiscal year 1996-1997 that a school 18 2 district will receive because of the fully funding of the 18 3 homestead credit, military service credit, and elderly and 18 4 disabled credit shall be used entirely for property tax 18 5 relief. In the case of a city or county at least 50 percent 18 6 of such excess reimbursements shall be used for property tax 18 7 relief with any remaining amount to be used for 18 8 infrastructure. The counties may use the remaining amount to 18 9 pay expenses incurred in providing tax statements and receipts 18 10 required under a Code section amended in division III. 18 11 Division III makes numerous changes relating to property 18 12 taxes and local budget practices. 18 13 The division moves the budget certification deadline for 18 14 schools from April 15 to March 15. The division also provides 18 15 that cities and counties whose budget is certified after March 18 16 15 shall be limited to the prior year's certification amount. 18 17 The division provides that the department of management 18 18 shall prescribe the forms for budgets certified to the county 18 19 auditor and for the public hearing notice on the budget for 18 20 use by cities and counties. The division requires the 18 21 department of management to certify local budgets back to the 18 22 county auditor by June 15 of each year. 18 23 The publication deadline for the county annual financial 18 24 report is changed from October 1 to December 1. The division 18 25 also provides that the department of management shall 18 26 prescribe the form for the annual financial report. The 18 27 division prescribes a monetary withholding penalty for late 18 28 filing of the report. 18 29 The division limits the county's budget reserve to not more 18 30 than 30 percent of the previous year's property taxes. If the 18 31 budget reserve is in excess of 30 percent, the property tax 18 32 dollars for the present year is reduced by this excess. These 18 33 requirements could be waived for up to three years. 18 34 The division also requires that a property tax statement be 18 35 delivered to the taxpayer. The division specifies additional 19 1 comparative information that must be included on the property 19 2 tax statement. 19 3 The division also establishes a tax statement study 19 4 committee comprised of members of the county finance committee 19 5 and three county treasurers appointed by the governor. The 19 6 committee is charged with studying various administrative and 19 7 fiscal issues involved with implementing use of the new tax 19 8 statements. The committee is to report to the general 19 9 assembly in January 1998. 19 10 The section of the division requiring that a tax statement 19 11 be prepared and mailed applies to tax statements issued for 19 12 fiscal year 2001-2002. The remainder of the division applies 19 13 to budgets prepared for fiscal years beginning on or after 19 14 July 1, 1998. 19 15 LSB 2763YC 77 19 16 mg/cf/24.2
Text: HSB00239 Text: HSB00241 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
Search: House Bills and Amendments (77th General Assembly)
© 1997 Cornell College and League of Women Voters of Iowa
Comments about this site or page? webmaster@legis.iowa.gov. Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Apr 10 03:43:08 CDT 1997
URL: /DOCS/GA/77GA/Legislation/HSB/00200/HSB00240/970409.html
jhf