Text: SF02028 Text: SF02030 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422E.3, subsection 5, paragraph c, 1 2 unnumbered paragraph 2, Code Supplement 1999, is amended to 1 3 read as follows: 1 4 d. (1) If more than one school district, or a portion of 1 5 a school district, is located within the county, tax receipts 1 6 shall be remitted to each school district or portion of a 1 7 school district in which the county tax is imposed in a pro 1 8 rata share based upon the ratio which the percentage of actual 1 9 enrollment for the school district that attends school in the 1 10 county bears to the percentage of the total combined actual 1 11 enrollments for all school districts that attend school in the 1 12 county. 1 13 (2) The combined actual enrollment for a county, for 1 14 purposes of this section, shall be determined for each county 1 15imposing a sales and services tax for school infrastructure1 16purposesby the department of management based on the actual 1 17 enrollment figures reported by October 1 to the department of 1 18 management by the department of education pursuant to section 1 19 257.6, subsection 1. The combined actual enrollment count 1 20 shall be forwarded to the director ofthe department of1 21managementrevenue and finance by March 1, annually, for 1 22 purposes of supplying estimated tax payment figures and making 1 23 estimated tax payments pursuant to this section for the 1 24 following fiscal year. 1 25 e. The actual tax receipts which a school district shall 1 26 receive shall not exceed the limitation provided in subsection 1 27 5A. 1 28 Sec. 2. Section 422E.3, Code Supplement 1999, is amended 1 29 by adding the following new subsection: 1 30 NEW SUBSECTION. 5A. a. The director of revenue and 1 31 finance by June 1 preceding each fiscal year shall compute the 1 32 statewide tax revenues per student for the coming fiscal year. 1 33 The statewide tax revenues per student is determined by 1 34 estimating the total revenues that would be generated by a one 1 35 percent local option sales and services tax for school 2 1 infrastructure purposes if imposed by all the counties during 2 2 the entire fiscal year and dividing this estimated revenue 2 3 amount by the sum of the combined actual enrollment for all 2 4 counties as described in subsection 5, paragraph "d", 2 5 subparagraph (2). 2 6 b. The maximum amount that may be paid per student 2 7 pursuant to subsection 5 from tax receipts credited for the 2 8 fiscal year under subsection 4 to the local sales and services 2 9 tax account of a county equals the statewide tax revenues per 2 10 student, estimated in paragraph "a", multiplied by the 2 11 quotient of the tax rate percent divided by one percent and 2 12 multiplied by the quotient of the number of quarters the tax 2 13 is imposed during the fiscal year divided by four quarters. 2 14 c. If the amount of the receipts credited for the fiscal 2 15 year under subsection 4 to the local sales and services tax 2 16 account of a county is in excess of the maximum amount for 2 17 that account as calculated under paragraph "b", the excess 2 18 shall be transferred by the director of revenue and finance to 2 19 a reserve fund to be distributed to each county which imposed 2 20 the tax during the previous quarter that has not reached the 2 21 maximum amount for that county as calculated under paragraph 2 22 "b". The moneys in the reserve fund shall be distributed 2 23 quarterly to the eligible counties with each county receiving 2 24 the same dollar amount per student until the county reaches 2 25 the maximum amount calculated in paragraph "b". However, for 2 26 a county that has imposed the tax at a rate of less than one 2 27 percent, the amount that county shall receive per student 2 28 shall be a fraction of the amount the other counties received. 2 29 The fraction equals the tax rate percent divided by one 2 30 percent. 2 31 Notwithstanding the limitation in paragraph "b", if any 2 32 moneys remain in the reserve fund after all counties which 2 33 have imposed the tax during the previous quarter have reached 2 34 the limitation in paragraph "b", the remaining moneys shall be 2 35 distributed to each county at the same dollar amount per 3 1 student. However, for a county that has imposed the tax at a 3 2 rate of less than one percent, the amount that county shall 3 3 receive per student shall be a fraction of the amount the 3 4 other counties received. The fraction equals the tax rate 3 5 percent divided by one percent. 3 6 d. School districts that have issued bonds prior to 3 7 January 1, 2000, under authority of section 422E.4 that remain 3 8 outstanding, or have entered into construction contracts for 3 9 infrastructure projects prior to January 1, 2000, in 3 10 anticipation of the receipt of tax revenues under this 3 11 chapter, which projects are not completed and that are located 3 12 in a county that has had moneys transferred to the reserve 3 13 fund are entitled to additional funds from the reserve fund to 3 14 meet their bond or contractual obligations. These additional 3 15 funds shall be provided prior to any transfers under paragraph 3 16 "c" from the reserve fund. The department of revenue and 3 17 finance shall establish procedures for school districts to 3 18 request the additional funds from the department, including 3 19 requirements regarding the provision of any information, 3 20 documents, and statistics needed to justify the request. 3 21 Sec. 3. EFFECTIVE AND APPLICABILITY DATES. This Act, 3 22 being deemed of immediate importance, takes effect upon 3 23 enactment and applies to fiscal years beginning after the 3 24 effective date. 3 25 EXPLANATION 3 26 The bill provides a limitation on the local option sales 3 27 and services tax revenues collected in a county which are to 3 28 be distributed to school districts in that county. The limit 3 29 is equal to the total tax revenue that would be generated by a 3 30 1 percent school sales and services tax if imposed by all 99 3 31 counties divided by the actual enrollment for school districts 3 32 in the state for the previous school year. Counties that 3 33 collect tax revenue in excess of this per student limit will 3 34 have the revenues transferred to a reserve fund. The moneys 3 35 in the reserve fund will be used to provide additional 4 1 revenues to those counties which have imposed the tax but have 4 2 not reached their per student limit. 4 3 The per student limit is decreased for those counties which 4 4 impose the local sales and services tax for school 4 5 infrastructure purposes at less than 1 percent or impose it 4 6 for less than the entire fiscal year. 4 7 School districts in a county that have reached their per 4 8 student limit and have issued bonds or entered into capital 4 9 projects prior to January 1, 2000, are entitled to receive 4 10 reserve moneys from the reserve fund to meet their bond 4 11 obligations or contractual obligations prior to the 4 12 distribution of the reserve fund moneys to any other school 4 13 district. 4 14 The bill takes effect upon enactment and applies to fiscal 4 15 years beginning after the effective date. 4 16 LSB 5511XS 78 4 17 mg/as/5
Text: SF02028 Text: SF02030 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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