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Text: SF00170                           Text: SF00172
Text: SF00100 - SF00199                 Text: SF Index
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Senate File 171

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 8.59, Code 1997, is amended to read as
  1  2 follows:
  1  3    8.59  APPROPRIATIONS FREEZE.
  1  4    Notwithstanding contrary provisions of the Code, the
  1  5 amounts appropriated under the applicable sections of the Code
  1  6 for fiscal years commencing on or after July 1, 1993, are
  1  7 limited to those amounts expended under those sections for the
  1  8 fiscal year commencing July 1, 1992.  If an applicable section
  1  9 appropriates moneys to be distributed to different recipients
  1 10 and the operation of this section reduces the total amount to
  1 11 be distributed under the applicable section, the moneys shall
  1 12 be prorated among the recipients.  As used in this section,
  1 13 "applicable sections" means the following sections:  53.50,
  1 14 229.35, 230.8, 230.11, 405A.8, 411.20, 425.1, 425.39, 426A.1,
  1 15 663.44, and 822.5.
  1 16    Sec. 2.  Section 426A.2, Code 1997, is amended to read as
  1 17 follows:
  1 18    426A.2  MILITARY SERVICE TAX CREDIT.
  1 19    The moneys shall be apportioned each year so as to replace
  1 20 all or a portion of the tax which would be due on property
  1 21 eligible for military service tax exemption in the state, if
  1 22 the property were subject to taxation, the amount of the
  1 23 credit to be not more than six dollars and seventy-five cents
  1 24 per thousand dollars of assessed value of property which would
  1 25 be subject to the tax, except for the military service tax
  1 26 exemption.
  1 27    Sec. 3.  Section 426A.5, Code 1997, is amended to read as
  1 28 follows:
  1 29    426A.5  PROPORTIONATE SHARES TO DISTRICTS.
  1 30    The amount of credits received under this chapter shall
  1 31 then be apportioned by each county treasurer to the several
  1 32 taxing districts in the same manner as though the amount of
  1 33 the credit had been paid by the owner of the property
  1 34 receiving the credit.  Each taxing district shall receive its
  1 35 proportionate share of the military service tax credit allowed
  2  1 on each and every tax exemption allowed in such the taxing
  2  2 district, in the proportion that the levy made by such taxing
  2  3 district upon general property bears to the total levy upon
  2  4 all property subject to general property taxation by all
  2  5 taxing districts imposing a general property tax in such
  2  6 taxing district based upon the amount of property taxes which
  2  7 would be due on the property receiving the credit, if the
  2  8 property were subject to taxation.
  2  9    Sec. 4.  This Act applies to military service tax credits
  2 10 payable in fiscal years beginning on or after July 1, 1997.  
  2 11                           EXPLANATION
  2 12    Present law allows a military service tax exemption of a
  2 13 specific value of property based on the period of military
  2 14 service of the owner.  The state reimburses the local units in
  2 15 an amount based upon how much property taxes would be imposed
  2 16 on the value of this property, if taxable.  This is similar to
  2 17 a tax credit.  However, the amount of state reimbursement is
  2 18 not to exceed $6.75 per $1,000 of valuation.  The amounts of
  2 19 the consolidated levies throughout the state exceed $6.75 per
  2 20 $1,000 thus the state does not fully reimburse local
  2 21 governments for the less of property taxes due to the
  2 22 exemption.  In addition, the state amount to reimburse the
  2 23 $6.75 credit amount to local governments was frozen at the
  2 24 state amount of reimbursement paid in the 1992-1993 fiscal
  2 25 year.  This bill provides for state reimbursement equal to the
  2 26 full amount of property taxes that local units of government
  2 27 would have collected from the exemption of property as a
  2 28 result of the military service tax exemption.
  2 29    The bill applies to military service tax credits payable in
  2 30 fiscal years beginning on or after July 1, 1997.  
  2 31 LSB 1713SS 77
  2 32 mg/sc/14
     
Text: SF00170                           Text: SF00172
Text: SF00100 - SF00199                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index
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