Text: SF02229                           Text: SF02231
Text: SF02200 - SF02299                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index



Senate File 2230

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  NEW SECTION.  296.8  TAX EXEMPTION.
  1  2    Any bonds or notes issued by a school district for school
  1  3 infrastructure purposes shall be exempt from taxation by this
  1  4 state and the interest on the bonds or notes shall be exempt
  1  5 from state income tax.  For the purposes of this section,
  1  6 school infrastructure purposes shall refer to the purposes
  1  7 specified in section 296.1.
  1  8    Sec. 2.  Section 422.7, Code 1999, is amended by adding the
  1  9 following new subsection:
  1 10    NEW SUBSECTION.  35.  Subtract interest earned on bonds and
  1 11 notes issued by a school district for school infrastructure
  1 12 purposes as provided in section 296.8.  
  1 13                           EXPLANATION
  1 14    This bill provides that any bonds or notes issued by a
  1 15 school district for school infrastructure purposes shall be
  1 16 exempt from taxation by the state and the interest on the
  1 17 bonds or notes shall be exempt from state income tax.  The
  1 18 bill provides that school infrastructure purposes shall refer
  1 19 to the purposes specified in Code section 296.1.  These
  1 20 purposes include the cost of purchasing, building, furnishing,
  1 21 reconstructing, repairing, improving or remodeling a
  1 22 schoolhouse or schoolhouses and additions thereto, a
  1 23 gymnasium, stadium, field house, school bus garage, teachers'
  1 24 or superintendent's home or homes, and procuring a site or
  1 25 sites therefore, or purchasing land to add to a site already
  1 26 owned, or procuring and improving a site for an athletic
  1 27 field, or improving a site already owned for an athletic
  1 28 field.  
  1 29 LSB 5265XS 78
  1 30 rn/cf/24
     

Text: SF02229                           Text: SF02231
Text: SF02200 - SF02299                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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