Text: HF00263 Text: HF00265 Text: HF00200 - HF00299 Text: HF 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 2001, is amended to read as 1 3 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 16purposesby the department of management based on the actual 1 17 enrollment figures reported by October 1 to the department of 1 18 management by the department of education pursuant to section 1 19 257.6, subsection 1. The combined actual enrollment count 1 20 shall be forwarded to the director ofthe department of1 21managementrevenue and finance by March 1, annually, for 1 22 purposes of supplying estimated tax payment figures and making 1 23 estimated tax payments pursuant to this section for the 1 24 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 2001, is amended by adding 1 29 the following new subsection: 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 revenues per student for the coming fiscal year. 1 33 The statewide tax revenues per student is determined by 1 34 estimating the total revenues 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 revenues 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 to each county which imposed 2 20 the tax during the previous quarter that has not reached the 2 21 maximum amount for that county as calculated under paragraph 2 22 "b". The moneys in the reserve fund shall be distributed 2 23 quarterly to the eligible counties with each county receiving 2 24 the same dollar amount per student until the county reaches 2 25 the maximum amount calculated in paragraph "b". However, for 2 26 a county that has imposed the tax at a rate of less than one 2 27 percent, the amount that county shall receive per student 2 28 shall be a fraction of the amount the other counties received. 2 29 The fraction equals the tax rate percent divided by one 2 30 percent. 2 31 Notwithstanding the limitation in paragraph "b", if any 2 32 moneys remain in the reserve fund after all counties which 2 33 have imposed the tax during the previous quarter have reached 2 34 the limitation in paragraph "b", the remaining moneys shall be 2 35 distributed to each county at the same dollar amount per 3 1 student. However, for a county that has imposed the tax at a 3 2 rate of less than one percent, the amount that county shall 3 3 receive per student shall be a fraction of the amount the 3 4 other counties received. The fraction equals the tax rate 3 5 percent divided by one percent. 3 6 d. School districts that have issued bonds prior to the 3 7 effective date of this Act, under authority of section 422E.4 3 8 that remain outstanding, or have entered into construction 3 9 contracts for infrastructure projects prior to the effective 3 10 date of this Act, in anticipation of the receipt of tax 3 11 revenues under this chapter, which projects are not completed 3 12 and that are located in a county that has had moneys 3 13 transferred to the reserve fund are entitled to additional 3 14 funds from the reserve fund to meet their bond or contractual 3 15 obligations. These additional funds shall be provided prior 3 16 to any transfers under paragraph "c" from the reserve fund. 3 17 The department of revenue and finance shall establish 3 18 procedures for school districts to request the additional 3 19 funds from the department, including requirements regarding 3 20 the provision of any information, documents, and statistics 3 21 needed to justify the request. 3 22 Sec. 3. EFFECTIVE AND APPLICABILITY DATES. This Act, 3 23 being deemed of immediate importance, takes effect upon 3 24 enactment and applies to fiscal years beginning after the 3 25 effective date. 3 26 EXPLANATION 3 27 The bill provides a limitation on the receipt of local 3 28 option sales and services tax revenues collected in a county 3 29 which are to be distributed to school districts in that 3 30 county. The limit is equal to the total tax revenue that 3 31 would be generated by a 1 percent school sales and services 3 32 tax if imposed by all 99 counties divided by the actual 3 33 enrollment for school districts in the state for the previous 3 34 school year. Counties that collect tax revenue in excess of 3 35 this per student limit will have the revenues transferred to a 4 1 reserve fund. The moneys in the reserve fund will be used to 4 2 provide additional revenues to those counties which have 4 3 imposed the tax but have not reached their per student limit. 4 4 After all eligible school districts have received their per 4 5 student limit, additional moneys in the reserve fund will be 4 6 distributed to each school district at the same dollar amount 4 7 per pupil. 4 8 The per student limit is decreased for those counties which 4 9 impose the local sales and services tax for school 4 10 infrastructure purposes at less than 1 percent or impose it 4 11 for less than the entire fiscal year. 4 12 School districts in a county that have reached their per 4 13 student limit and have issued bonds or entered into capital 4 14 projects prior to the effective date of the bill are entitled 4 15 to receive reserve moneys from the reserve fund to meet their 4 16 bond obligations or contractual obligations prior to the 4 17 distribution of the reserve fund moneys to any other school 4 18 district. 4 19 The bill takes effect upon enactment and applies to fiscal 4 20 years beginning after the effective date. 4 21 LSB 1583HH 79 4 22 mg/pj/5
Text: HF00263 Text: HF00265 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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