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Senate Amendment 3441

Amendment Text

PAG LIN
  1  1    Amend Senate File 514 as follows:
  1  2    #1.  Page 10, by inserting after line 4, the
  1  3 following:
  1  4    "___.  "County affected by tax increment financing"
  1  5 means a county where both of the following apply:
  1  6    (1)  The board of supervisors certified a general
  1  7 fund levy for the fiscal year beginning July 1, 2001,
  1  8 on or before March 15, 2001, that was less than three
  1  9 dollars and fifty cents per thousand dollars of
  1 10 taxable valuation times the taxable valuation for the
  1 11 general fund for that fiscal year.
  1 12    (2)  A city or community college established a tax
  1 13 increment financing district on property against which
  1 14 the county levied general fund property taxes in the
  1 15 fiscal year beginning July 1, 2000."
  1 16    #2.  Page 10, by inserting after line 30, the
  1 17 following:
  1 18    "(__)  A municipality dividing tax revenues in an
  1 19 urban renewal area as provided in section 403.19 which
  1 20 is located in a county affected by tax increment
  1 21 financing, to the extent of the amount of incremental
  1 22 valuation on property newly constructed on or after
  1 23 July 1, 2001.  The amount computed under this
  1 24 subparagraph shall not exceed the dollar equivalent of
  1 25 three hundred fifty hundred thousandths multiplied by
  1 26 the taxable valuation for the general fund for the
  1 27 budget year, minus the greater of the current year's
  1 28 tentative maximum property tax dollars for general
  1 29 county services or the general fund property tax
  1 30 dollars certified for the fiscal year beginning July
  1 31 1, 2001."
  1 32    #3.  Page 21, by inserting after line 27, the
  1 33 following:
  1 34    "Sec. 100.  Section 425A.2, subsection 4, paragraph
  1 35 d, Code 2001, is amended to read as follows:
  1 36    d.  If the owner is an authorized farm corporation,
  1 37 a shareholder who owns at least fifty-one fifty
  1 38 percent of the stock of the authorized farm
  1 39 corporation or the shareholder's spouse.
  1 40    Sec. 101.  Section 425A.2, subsection 4, paragraph
  1 41 e, Code 2001, is amended to read as follows:
  1 42    e.  If the owner is an individual who leases the
  1 43 tract to a family farm corporation, a shareholder of
  1 44 the corporation if the combined stock of the family
  1 45 farm corporation owned by the owner of the tract and
  1 46 persons related to the owner as enumerated in
  1 47 paragraph "a" is equal to at least fifty-one fifty
  1 48 percent of the stock of the family farm corporation.
  1 49    Sec. 102.  Section 425A.2, subsection 4, paragraph
  1 50 f, Code 2001, is amended to read as follows:
  2  1    f.  If the owner is an individual who leases the
  2  2 tract to a partnership, a partner if the combined
  2  3 partnership interest owned by a designated person as
  2  4 defined in paragraph "a" is equal to at least fifty-
  2  5 one fifty percent of the ownership interest of the
  2  6 partnership.
  2  7    Sec. 200.  Section 427.1, subsection 19, Code 2001,
  2  8 is amended by adding the following new unnumbered
  2  9 paragraph after unnumbered paragraph 8:
  2 10    NEW UNNUMBERED PARAGRAPH.  Pollution-control
  2 11 property used for purposes relating to the care and
  2 12 feeding of livestock as defined in section 169C.1
  2 13 shall be limited to the first two hundred thousand
  2 14 dollars in assessed value per taxpayer, unless an
  2 15 owner of the pollution-control property is any of the
  2 16 following:
  2 17    a.  The owner of agricultural land which is
  2 18 eligible for the family farm property tax credit as
  2 19 provided in chapter 425A.
  2 20    b.  Actively engaged in farming as defined in
  2 21 section 10.1.
  2 22    c.  A networking farmers entity as defined in
  2 23 section 10.1 or a member of a networking farmers
  2 24 entity."
  2 25    #4.  Page 21, by striking line 29, and inserting
  2 26 the following:
  2 27    "Sec.    .  APPLICABILITY DATES.  Sections 100
  2 28 through 102 of this Act apply to credits applied for
  2 29 on or after July 1, 2001.  Section 200 of this Act
  2 30 applies to exemptions first applied for on or after
  2 31 July 1, 2001.  The remainder of this Act applies to
  2 32 the".
  2 33    #5.  By renumbering, redesignating, and correcting
  2 34 internal references as necessary.  
  2 35 
  2 36 
  2 37                               
  2 38 COMMITTEE ON WAY AND MEANS
  2 39 LARRY McKIBBEN, Chairperson
  2 40 SF 514.309 79
  2 41 sc/cf

Text: S03440                            Text: S03442
Text: S03400 - S03499                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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