Text: SF02088 Text: SF02090 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 SENATE FILE 2089
1 2
1 3 AN ACT
1 4 RELATING TO COLLECTION OF THE PHYSICAL PLANT AND EQUIPMENT
1 5 PROPERTY TAX LEVY IN CERTAIN URBAN RENEWAL AREAS AND PROVIDING
1 6 AN APPLICABILITY DATE.
1 7
1 8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 9
1 10 Section 1. Section 298.3, Code 1999, is amended by adding
1 11 the following new subsection:
1 12 NEW SUBSECTION. 12. Payments to a municipality or other
1 13 entity as required under section 403.19, subsection 2.
1 14 Sec. 2. Section 403.19, subsection 2, Code 1999, is
1 15 amended to read as follows:
1 16 2. That portion of the taxes each year in excess of such
1 17 amount shall be allocated to and when collected be paid into a
1 18 special fund of the municipality to pay the principal of and
1 19 interest on loans, moneys advanced to, or indebtedness,
1 20 whether funded, refunded, assumed, or otherwise, including
1 21 bonds issued under the authority of section 403.9, subsection
1 22 1, incurred by the municipality to finance or refinance, in
1 23 whole or in part, an urban renewal project within the area,
1 24 and to provide assistance for low and moderate income family
1 25 housing as provided in section 403.22, except that taxes for
1 26 the regular and voter-approved physical plant and equipment
1 27 levy of a school district imposed pursuant to section 298.2
1 28 and taxes for the payment of bonds and interest of each taxing
1 29 district must be collected against all taxable property within
1 30 the taxing district without limitation by the provisions of
1 31 this subsection. However, all or a portion of the taxes for
1 32 the physical plant and equipment levy shall be paid by the
1 33 school district to the municipality if the municipality
1 34 certifies to the school district by July 1 the amount of such
1 35 levy that is necessary to pay the principal and interest on
2 1 indebtedness incurred by the municipality to finance an urban
2 2 renewal project, which indebtedness was incurred before July
2 3 1, 2000. Such school district shall pay over the amount
2 4 certified by November 1 following certification to the school
2 5 district. Unless and until the total assessed valuation of
2 6 the taxable property in an urban renewal area exceeds the
2 7 total assessed value of the taxable property in such area as
2 8 shown by the last equalized assessment roll referred to in
2 9 subsection 1, all of the taxes levied and collected upon the
2 10 taxable property in the urban renewal area shall be paid into
2 11 the funds for the respective taxing districts as taxes by or
2 12 for the taxing districts in the same manner as all other
2 13 property taxes. When such loans, advances, indebtedness, and
2 14 bonds, if any, and interest thereon, have been paid, all
2 15 moneys thereafter received from taxes upon the taxable
2 16 property in such urban renewal area shall be paid into the
2 17 funds for the respective taxing districts in the same manner
2 18 as taxes on all other property.
2 19 Sec. 3. APPLICABILITY DATE. This Act applies to property
2 20 taxes due and owing on or after July 1, 2000.
2 21
2 22
2 23
2 24 MARY E. KRAMER
2 25 President of the Senate
2 26
2 27
2 28
2 29 BRENT SIEGRIST
2 30 Speaker of the House
2 31
2 32 I hereby certify that this bill originated in the Senate and
2 33 is known as Senate File 2089, Seventy-eighth General Assembly.
2 34
2 35
3 1
3 2 MICHAEL E. MARSHALL
3 3 Secretary of the Senate
3 4 Approved , 2000
3 5
3 6
3 7
3 8 THOMAS J. VILSACK
3 9 Governor
Text: SF02088 Text: SF02090 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
© 2000 Cornell College and League of Women Voters of Iowa
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