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House Amendment 2005

Amendment Text

PAG LIN
  1  1    Amend House File 755 as follows:
  1  2    #1.  Page 10, by inserting after line 24, the
  1  3 following:
  1  4    "Sec. 150.  Section 403.19, subsection 2, Code
  1  5 2001, is amended to read as follows:
  1  6    2.  That portion of the taxes each year in excess
  1  7 of such amount shall be allocated to and when
  1  8 collected be paid into a special fund of the
  1  9 municipality to pay the principal of and interest on
  1 10 loans, moneys advanced to, or indebtedness, whether
  1 11 funded, refunded, assumed, or otherwise, including
  1 12 bonds issued under the authority of section 403.9,
  1 13 subsection 1, incurred by the municipality to finance
  1 14 or refinance, in whole or in part, an urban renewal
  1 15 project within the area, and to provide assistance for
  1 16 low and moderate income family housing as provided in
  1 17 section 403.22, except that taxes for the regular and
  1 18 voter-approved physical plant and equipment levy of a
  1 19 school district imposed pursuant to section 298.2 and
  1 20 taxes for the payment of bonds and interest of each
  1 21 taxing district must be collected against all taxable
  1 22 property within the taxing district without limitation
  1 23 by the provisions of this subsection.  However, all or
  1 24 a portion of the taxes for the physical plant and
  1 25 equipment levy shall be paid by the school district to
  1 26 the municipality if the municipality auditor certifies
  1 27 to the school district by July 1 the amount of such
  1 28 levy that is necessary to pay the principal and
  1 29 interest on indebtedness incurred bonds issued by the
  1 30 municipality to finance an urban renewal project,
  1 31 which indebtedness was incurred bonds were issued
  1 32 before July 1, 2000.  Indebtedness incurred to refund
  1 33 bonds issued prior to July 1, 2000, shall not be
  1 34 included in the certification.  Such school district
  1 35 shall pay over the amount certified by November 1 and
  1 36 May 1 of the fiscal year following certification to
  1 37 the school district.  Unless and until the total
  1 38 assessed valuation of the taxable property in an urban
  1 39 renewal area exceeds the total assessed value of the
  1 40 taxable property in such area as shown by the last
  1 41 equalized assessment roll referred to in subsection 1,
  1 42 all of the taxes levied and collected upon the taxable
  1 43 property in the urban renewal area shall be paid into
  1 44 the funds for the respective taxing districts as taxes
  1 45 by or for the taxing districts in the same manner as
  1 46 all other property taxes.  When such loans, advances,
  1 47 indebtedness, and bonds, if any, and interest thereon,
  1 48 have been paid, all moneys thereafter received from
  1 49 taxes upon the taxable property in such urban renewal
  1 50 area shall be paid into the funds for the respective
  2  1 taxing districts in the same manner as taxes on all
  2  2 other property.
  2  3    Sec. 151.  Section 403.19, Code 2001, is amended by
  2  4 adding the following new subsection:
  2  5    NEW SUBSECTION.  7.  For any fiscal year, a
  2  6 municipality may certify to the county auditor for
  2  7 physical plant and equipment revenue necessary for
  2  8 payment of principal and interest on bonds issued
  2  9 prior to July 1, 2000, only if the municipality
  2 10 certified for such revenue for the fiscal year
  2 11 beginning July 1, 2000.  A municipality shall not
  2 12 certify to the county auditor for a school district
  2 13 more than the amount the municipality certified for
  2 14 the fiscal year beginning July 1, 2000.  If for any
  2 15 fiscal year a municipality fails to certify to the
  2 16 county auditor for a school district by July 1 the
  2 17 amount of physical plant and equipment revenue
  2 18 necessary for payment of principal and interest on
  2 19 such bonds, as provided in subsection 2, the school
  2 20 district is not required to pay over the revenue to
  2 21 the municipality.  If a school district and a
  2 22 municipality are unable to agree on the amount of
  2 23 physical plant and equipment revenue certified by the
  2 24 municipality for the fiscal year beginning July 1,
  2 25 2001, either party may request that the state appeal
  2 26 board review and finally pass upon the amount that may
  2 27 be certified.  Such appeals must be presented in
  2 28 writing to the state appeal board no later than July
  2 29 31 following certification.  The burden shall be on
  2 30 the municipality to prove that the physical plant and
  2 31 equipment levy revenue is necessary to pay principal
  2 32 and interest on bonds issued prior to July 1, 2000.  A
  2 33 final decision must be issued by the state appeal
  2 34 board no later than the following October 1."
  2 35    #2.  Page 11, by inserting after line 1, the
  2 36 following:
  2 37    "Sec.    .  EFFECTIVE AND APPLICABILITY DATES.
  2 38 Sections 150 and 151 of this division of this Act,
  2 39 being deemed of immediate importance, take effect upon
  2 40 enactment and apply to property taxes due and payable
  2 41 in fiscal years beginning on or after July 1, 2001." 
  2 42 
  2 43 
  2 44                               
  2 45 BOAL of Polk 
  2 46 
  2 47 
  2 48                               
  2 49 FINCH of Story
  2 50 
  3  1 
  3  2                               
  3  3 GRUNDBERG of Polk
  3  4 HF 755.317 79
  3  5 mg/cf
     

Text: H02004                            Text: H02006
Text: H02000 - H02099                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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