Text: HF02465 Text: HF02467 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 425.1, subsections 2 and 4, Code 1999, 1 2 are amended to read as follows: 1 3 2. The homestead credit fund shall be apportioned each 1 4 year so as to give a credit against the tax on each eligible 1 5 homestead in the state in an amount equal to the actual levy 1 6 on the firstfoursix thousandeight hundredfifty dollars of 1 7 actual value for each homestead. 1 8 4. Annually the department of revenue and finance shall 1 9 estimate the credit not to exceed the actual levy on the first 1 10foursix thousandeight hundredfifty dollars of actual value 1 11 of each eligible homestead, and shall certify to the county 1 12 auditor of each county the credit and its amount in dollars. 1 13 Each county auditor shall then enter the credit against the 1 14 tax levied on each eligible homestead in each county payable 1 15 during the ensuing year, designating on the tax lists the 1 16 credit as being from the homestead credit fund, and credit 1 17 shall then be given to the several taxing districts in which 1 18 eligible homesteads are located in an amount equal to the 1 19 credits allowed on the taxes of the homesteads. The amount of 1 20 credits shall be apportioned by each county treasurer to the 1 21 several taxing districts as provided by law, in the same 1 22 manner as though the amount of the credit had been paid by the 1 23 owners of the homesteads. However, the several taxing 1 24 districts shall not draw the funds so credited until after the 1 25 semiannual allocations have been received by the county 1 26 treasurer, as provided in this chapter. Each county treasurer 1 27 shall show on each tax receipt the amount of credit received 1 28 from the homestead credit fund. 1 29 EXPLANATION 1 30 Present law provides a homestead credit equal to the actual 1 31 levy on the first $4,850 of assessed value. This bill 1 32 increases the credit to the actual levy on the first $6,050 of 1 33 assessed value. 1 34 LSB 6069YH 78 1 35 mg/as/5
Text: HF02465 Text: HF02467 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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