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House Journal: Page 335: Monday, February 17, 1997

36     5.  For each state fiscal year ending with or
37   before the year in which the ninth increase in the
38   additional personal property tax credit under this
39   division becomes effective, each taxing district shall
40   be reimbursed from the personal property tax
41   replacement fund in an amount equal to its personal
42   property tax replacement base multiplied by a fraction
43   the numerator of which is the total assessed value of
44   all personal property, excluding livestock, in the
45   taxing district, on which taxes are not payable during
46   the fiscal year because of the various tax credits
47   granted by this chapter, and the denominator of which
48   is the total assessed value of all personal property
49   in the taxing district, excluding livestock but
50   including other personal property eligible for tax

Page   3

 1   credits granted by this chapter.  For the half year
 2   beginning January 1, 1974, and ending June 30, 1974,
 3   the amount of reimbursement shall be half the amount
 4   determined pursuant to this subsection.  The county
 5   auditor shall certify and forward to the director of
 6   the department of management and the director of
 7   revenue and finance, at the times and in the form
 8   directed by the director of the department of
 9   management, any information needed for the purposes of
10   this subsection.  The director of the department of
11   management shall make any necessary corrections and
12   certify the appropriate information to the director of
13   revenue and finance.
14     Sec. ___.  Section 427A.12, subsection 6, Code
15   1997, is amended to read as follows:
16     6.  The amount due each taxing district shall be
17   paid in the form of warrants payable to the respective
18   county treasurers by the director of revenue and
19   finance on May 15 of each fiscal year, taking into
20   consideration the relative budget and cash position of
21   the state resources.  For the fiscal year beginning
22   July 1, 1984 and ending June 30, 1985, one-half of the
23   amount due each taxing district shall be paid to the
24   respective county treasurers by the state comptroller
25   on May 15, 1985.  For the fiscal year beginning July
26   1, 1985 and ending June 30, 1986, and for each
27   succeeding fiscal year the amount due each taxing
28   district shall be paid in the form of warrants payable
29   to the respective county treasurers by the director of
30   revenue and finance on July 15 and May 15 of that
31   fiscal year, taking into consideration the relative
32   budget and cash position of the state resources.  The
33   July 15 payment shall be equal to the amount paid on
34   May 15 of the preceding fiscal year and the payments
35   received shall be an account receivable for each

Iowa General Assembly

Index: House Journal (77th General Assembly: Session 1)

© 1997 Cornell College and League of Women Voters of Iowa

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Last update: Tue Feb 18 13:40:03 CST 1997
URL: /DOCS/GA/77GA/Session.1/HJournal/00300/00335.html
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