Text: SF02095 Text: SF02097 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 405A.10, Code 1999, is amended to read 1 2 as follows: 1 3 405A.10 FRANCHISE TAX REVENUE ALLOCATION. 1 4 For the fiscal year beginning July 1,1997, and each1 5subsequent fiscal year2000, there is appropriated from the 1 6 general fund of the state to the department of revenue and 1 7 finance the sum ofeighttwelve millioneightfive hundred 1 8 thousand dollars which shall be paid quarterly on warrants by 1 9 the director as allocated pursuant to section 422.65. 1 10 For the fiscal year beginning July 1, 2001, and each 1 11 subsequent fiscal year, there is appropriated from the general 1 12 fund of the state to the department of revenue and finance an 1 13 amount equal to forty-five percent of all moneys received from 1 14 the franchise tax which shall be paid quarterly on warrants by 1 15 the director as allocated pursuant to section 422.65. 1 16 EXPLANATION 1 17 This bill increases the appropriation of state franchise 1 18 tax revenues received from financial institutions that are 1 19 distributed to cities and counties from $8.8 million to $12.5 1 20 million for the fiscal year 2000-2001 and to 45 percent of all 1 21 state franchise tax revenues received for fiscal year 2001- 1 22 2002 and subsequent fiscal years. 1 23 LSB 6152SS 78 1 24 mg/as/5
Text: SF02095 Text: SF02097 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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