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Text: SF00216                           Text: SF00218
Text: SF00200 - SF00299                 Text: SF Index
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Senate File 217

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 422B.10, subsection 2, Code 1997, is
  1  2 amended to read as follows:
  1  3    2.  a.  The director of revenue and finance within fifteen
  1  4 days of the beginning of each fiscal year shall send to each
  1  5 city or county where the local option tax is imposed, an
  1  6 estimate of the amount of tax moneys each city or county will
  1  7 receive for the year and for each quarter month of the year.
  1  8 At the end of each quarter, the director may revise the
  1  9 estimates for the year and remaining quarters months.
  1 10    b.  The director of revenue and finance shall remit ninety
  1 11 percent of the estimate tax receipts for the city or county to
  1 12 the city or county after the end of each quarter month no
  1 13 later than the following dates:  November 10, February 10, May
  1 14 10, and August 10 twentieth of the succeeding month.
  1 15    c.  The director of revenue and finance shall remit a final
  1 16 payment of the remainder of tax moneys due the city or county
  1 17 for the fiscal year before the due date for the payment of the
  1 18 first quarter month of the next fiscal year.  If an
  1 19 overpayment has resulted during the previous fiscal year, the
  1 20 first payment of the new fiscal year shall be adjusted to
  1 21 reflect any overpayment.
  1 22    Sec. 2.  This Act takes effect June 1, 1997, for fiscal
  1 23 years beginning after that date.  
  1 24                           EXPLANATION
  1 25    The bill requires the director of revenue and finance to
  1 26 pay local option sales and services tax or vehicle tax on a
  1 27 monthly basis.  Present law requires payments to be made on a
  1 28 quarterly basis.  The bill takes effect June 1, 1997, for
  1 29 fiscal years beginning after that date.  
  1 30 LSB 2280SS 77
  1 31 mg/sc/14
     
Text: SF00216                           Text: SF00218
Text: SF00200 - SF00299                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index
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