Text: HF02434 Text: HF02436 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 403.19, subsection 1, Code Supplement
1 2 2001, is amended by adding the following new paragraph:
1 3 NEW PARAGRAPH. d. In addition to the amount in paragraph
1 4 "a", taxes produced by the rate at which the tax is levied
1 5 each year by and for each of the taxing districts upon the
1 6 amount of increase in assessed value from the previous year
1 7 equal to the average increase in assessed value in the
1 8 municipality for that class of property shall be allocated to
1 9 and when collected be paid into the fund for the respective
1 10 taxing district as taxes by and for the taxing district into
1 11 which all other property taxes are paid.
1 12 Sec. 2. APPLICABILITY. This Act applies to taxes due and
1 13 payable in the fiscal year beginning July 1, 2003.
1 14 EXPLANATION
1 15 This bill provides that taxing districts located in an
1 16 urban renewal area that is utilizing tax increment financing
1 17 shall receive the amount of property taxes collected from the
1 18 levy on the increase in value of property located in the tax
1 19 increment financing district that is equal to the average
1 20 increase in value of property in the municipality for that
1 21 class of property.
1 22 The bill applies to taxes due and payable in the fiscal
1 23 year beginning July 1, 2003.
1 24 LSB 5709HH 79
1 25 sc/pj/5
Text: HF02434 Text: HF02436 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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