Text: SF02191 Text: SF02193 Text: SF02100 - SF02199 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 16purposesand identified by school district by the department 1 17 of management based on the actual enrollment figures reported 1 18 by October 1 to the department of management by the department 1 19 of education pursuant to section 257.6, subsection 1. The 1 20 combined actual enrollment count shall be forwarded to the 1 21 director ofthe department of managementrevenue and finance 1 22 by March 1, annually, for purposes of supplying estimated tax 1 23 payment figures and making estimated tax payments pursuant to 1 24 this section for the 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 subsections: 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 revenue per student for the coming fiscal year. 1 33 The statewide tax revenue per student is determined by 1 34 estimating the total revenue 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 revenue 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 as provided in subsection 5B. 2 20 d. School districts that have issued bonds prior to 2 21 January 1, 2000, under authority of section 422E.4 that remain 2 22 outstanding, or have entered into construction contracts for 2 23 infrastructure projects prior to January 1, 2000, in 2 24 anticipation of the receipt of tax revenues under this 2 25 chapter, which projects are not completed and that are located 2 26 in a county that has had moneys transferred to the reserve 2 27 fund are entitled to additional funds from the reserve fund to 2 28 meet their bond or contractual obligations. These additional 2 29 funds shall be provided prior to any distributions pursuant to 2 30 subsection 5B from the reserve fund. The department of 2 31 revenue and finance shall establish procedures for school 2 32 districts to request the additional funds from the department, 2 33 including requirements regarding the provision of any 2 34 information, documents, and statistics needed to justify the 2 35 request. 3 1 NEW SUBSECTION. 5B. a. There is established in the 3 2 office of treasurer of state a reserve fund into which shall 3 3 be deposited excess local sales and services tax revenues as 3 4 determined pursuant to subsection 5A, paragraph "c". Moneys 3 5 in the reserve fund are available each fiscal year to the 3 6 school districts determined to be eligible school districts 3 7 for that fiscal year. A school district is an eligible school 3 8 district if both of the following apply: 3 9 (1) The school district is located wholly or partly within 3 10 a county which has not imposed and will not impose a local 3 11 sales and services tax during the fiscal year. 3 12 (2) The school district is ranked in the bottom one-fifth 3 13 of the taxable valuation per pupil list for the fiscal year. 3 14 b. The director of revenue and finance shall compile for 3 15 each fiscal year a taxable valuation per pupil list which will 3 16 rank each school district described in paragraph "a", 3 17 subparagraph (1), beginning with the highest taxable valuation 3 18 per pupil and ending with the lowest taxable valuation per 3 19 pupil. The taxable valuation per pupil for a school district 3 20 equals the quotient of the taxable valuation of all property 3 21 located in the school district upon which property taxes in 3 22 the fiscal year will be collected, divided by the actual 3 23 enrollment figure as compiled for the school district under 3 24 subsection 5, paragraph "d", subparagraph (2). 3 25 c. The amount of moneys available to an eligible school 3 26 district for a fiscal year shall be calculated as follows: 3 27 (1) Calculate the sum of the actual enrollment figure for 3 28 all eligible school districts as computed under subsection 5, 3 29 paragraph "d", subparagraph (2). 3 30 (2) Divide the amount of moneys estimated to be in the 3 31 reserve fund during the fiscal year by the number calculated 3 32 in subparagraph (1) and multiply the resulting quotient by the 3 33 actual enrollment for the school district residing in a county 3 34 that has not imposed or will not impose the local sales and 3 35 services tax during the fiscal year. 4 1 d. The moneys available to an eligible school district 4 2 shall be used solely for school infrastructure needs as 4 3 defined in section 422E.1, subsection 3. The eligible school 4 4 district shall apply for those moneys available to it 4 5 according to procedures established by the department of 4 6 revenue and finance in conjunction with the departments of 4 7 education and management. An eligible school district is 4 8 entitled to apply for the available money until December 31 of 4 9 the fiscal year. If an application is not filed by December 4 10 31, the school district ceases to be eligible for moneys in 4 11 the reserve fund for the fiscal year. To the extent 4 12 practicable, moneys shall be distributed in a manner which is 4 13 similar to the procedure in subsection 5, paragraphs "a" 4 14 through "c". 4 15 e. Determination of eligible school districts and other 4 16 calculations required in this subsection shall be done 4 17 annually. A school district eligible during a fiscal year 4 18 shall meet the requirements for the following fiscal year in 4 19 order to continue to be an eligible school district. 4 20 Sec. 3. EFFECTIVE AND APPLICABILITY DATES. This Act, 4 21 being deemed of immediate importance, takes effect upon 4 22 enactment and applies to fiscal years beginning after the 4 23 effective date. 4 24 EXPLANATION 4 25 The bill provides a limitation on the local option sales 4 26 and services tax revenues collected in a county which are to 4 27 be distributed to school districts in that county. The limit 4 28 is equal to the total tax revenue that would be generated by a 4 29 1 percent school sales and services tax if imposed by all 99 4 30 counties divided by the actual enrollment for all school 4 31 districts in the state for the previous school year. The per 4 32 student limit is decreased for those counties which impose the 4 33 local sales and services tax for school infrastructure 4 34 purposes at less than 1 percent or impose it for less than the 4 35 entire fiscal year. Counties that collect tax revenue in 5 1 excess of this per student limit will have the revenues 5 2 transferred to a reserve fund. The moneys in the reserve fund 5 3 will be used to provide revenues to those certain school 5 4 districts located in counties which have not imposed the tax. 5 5 School districts that are eligible to receive moneys in the 5 6 reserve fund are those school districts whose taxable 5 7 valuation for property tax purposes per pupil are in the 5 8 lowest 20 percent of the school districts located in counties 5 9 without a local sales and services tax. The moneys available 5 10 to these eligible school districts are only available for one 5 11 fiscal year and the school districts must then requalify for 5 12 eligibility for the ensuing fiscal year. 5 13 School districts in a county that have reached their per 5 14 student limit and have issued bonds or entered into capital 5 15 projects prior to January 1, 2000, are entitled to receive 5 16 reserve moneys from the reserve fund to meet their bond 5 17 obligations or contractual obligations prior to the 5 18 distribution of the reserve fund moneys to any other school 5 19 district. 5 20 The bill takes effect upon enactment and applies to fiscal 5 21 years beginning after the effective date. 5 22 LSB 6136XS 78 5 23 mg/as/5
Text: SF02191 Text: SF02193 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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