Text: H02007 Text: H02009 Text: H02000 - H02099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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 themunicipalityauditor 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 onindebtedness incurredbonds issued by the 1 30 municipality to finance an urban renewal project, 1 31 whichindebtedness was incurredbonds were issued 1 32 before July 1,20002001. Indebtedness incurred to 1 33 refund bonds issued prior to July 1, 2001, shall not 1 34 be included in the certification. Such school 1 35 district shall pay over the amount certified by 1 36 November 1 and May 1 of the fiscal year following 1 37 certification to the school district. Unless and 1 38 until the total assessed valuation of the taxable 1 39 property in an urban renewal area exceeds the total 1 40 assessed value of the taxable property in such area as 1 41 shown by the last equalized assessment roll referred 1 42 to in subsection 1, all of the taxes levied and 1 43 collected upon the taxable property in the urban 1 44 renewal area shall be paid into the funds for the 1 45 respective taxing districts as taxes by or for the 1 46 taxing districts in the same manner as all other 1 47 property taxes. When such loans, advances, 1 48 indebtedness, and bonds, if any, and interest thereon, 1 49 have been paid, all moneys thereafter received from 1 50 taxes upon the taxable property in such urban renewal 2 1 area shall be paid into the funds for the respective 2 2 taxing districts in the same manner as taxes on all 2 3 other property. 2 4 Sec. 151. Section 403.19, Code 2001, is amended by 2 5 adding the following new subsection: 2 6 NEW SUBSECTION. 7. For any fiscal year, a 2 7 municipality may certify to the county auditor for 2 8 physical plant and equipment revenue necessary for 2 9 payment of principal and interest on bonds issued 2 10 prior to July 1, 2001, only if the municipality 2 11 certified for such revenue for the fiscal year 2 12 beginning July 1, 2001. A municipality shall not 2 13 certify to the county auditor for a school district 2 14 more than the amount the municipality certified for 2 15 the fiscal year beginning July 1, 2001. If for any 2 16 fiscal year a municipality fails to certify to the 2 17 county auditor for a school district by July 1 the 2 18 amount of physical plant and equipment revenue 2 19 necessary for payment of principal and interest on 2 20 such bonds, as provided in subsection 2, the school 2 21 district is not required to pay over the revenue to 2 22 the municipality. If a school district and a 2 23 municipality are unable to agree on the amount of 2 24 physical plant and equipment revenue certified by the 2 25 municipality for the fiscal year beginning July 1, 2 26 2002, either party may request that the state appeal 2 27 board review and finally pass upon the amount that may 2 28 be certified. Such appeals must be presented in 2 29 writing to the state appeal board no later than July 2 30 31 following certification. The burden shall be on 2 31 the municipality to prove that the physical plant and 2 32 equipment levy revenue is necessary to pay principal 2 33 and interest on bonds issued prior to July 1, 2001. A 2 34 final decision must be issued by the state appeal 2 35 board no later than the following October 1." 2 36 #2. Page 11, by inserting after line 1, the 2 37 following: 2 38 "Sec. . EFFECTIVE AND APPLICABILITY DATES. 2 39 Sections 150 and 151 of this division of this Act, 2 40 being deemed of immediate importance, take effect upon 2 41 enactment and apply to property taxes due and payable 2 42 in fiscal years beginning on or after July 1, 2002." 2 43 2 44 2 45 2 46 BOAL of Polk 2 47 2 48 2 49 2 50 FINCH of Story 3 1 3 2 3 3 3 4 GRUNDBERG of Polk 3 5 HF 755.712 79 3 6 mg/cls
Text: H02007 Text: H02009 Text: H02000 - H02099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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