Text: S05251 Text: S05253 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 2515, as amended, passed, and 1 2 reprinted by the House, as follows: 1 3 #1. Page 18, by inserting after line 18 the 1 4 following: 1 5 "Sec. . Section 403.19, subsections 2 and 7, 1 6 Code Supplement 2001, are amended to read as follows: 1 7 2. That portion of the taxes each year in excess 1 8 of such amount shall be allocated to and when 1 9 collected be paid into a special fund of the 1 10 municipality to pay the principal of and interest on 1 11 loans, moneys advanced to, or indebtedness, whether 1 12 funded, refunded, assumed, or otherwise, including 1 13 bonds issued under the authority of section 403.9, 1 14 subsection 1, incurred by the municipality to finance 1 15 or refinance, in whole or in part, an urban renewal 1 16 project within the area, and to provide assistance for 1 17 low and moderate income family housing as provided in 1 18 section 403.22, except that taxes for the regular and 1 19 voter-approved physical plant and equipment levy of a 1 20 school district imposed pursuant to section 298.2, 1 21 taxes for the instructional support levy of a school 1 22 district imposed pursuant to section 257.21, and taxes 1 23 for the payment of bonds and interest of each taxing 1 24 district must be collected against all taxable 1 25 property within the taxing district without limitation 1 26 by the provisions of this subsection. However, all or 1 27 a portion of the taxes for the physical plant and 1 28 equipment levy and for the instructional support levy 1 29 shall be paid by the school district to the 1 30 municipalityif the auditor certifies to the school1 31district by July 1 the amount of such levy that is1 32necessary to pay the principal and interest on bonds1 33issued by the municipality to finance an urban renewal1 34project, which bonds were issued before July 1, 2001.1 35Indebtedness incurred to refund bonds issued prior to1 36July 1, 2001, shall not be included in the1 37certification. Such school district shall pay over1 38the amount certified by November 1 and May 1 of the1 39fiscal year following certification to the school1 40districtas provided in subsection 7. Unless and 1 41 until the total assessed valuation of the taxable 1 42 property in an urban renewal area exceeds the total 1 43 assessed value of the taxable property in such area as 1 44 shown by the last equalized assessment roll referred 1 45 to in subsection 1, all of the taxes levied and 1 46 collected upon the taxable property in the urban 1 47 renewal area shall be paid into the funds for the 1 48 respective taxing districts as taxes by or for the 1 49 taxing districts in the same manner as all other 1 50 property taxes. When such loans, advances, 2 1 indebtedness, and bonds, if any, and interest thereon, 2 2 have been paid, all moneys thereafter received from 2 3 taxes upon the taxable property in such urban renewal 2 4 area shall be paid into the funds for the respective 2 5 taxing districts in the same manner as taxes on all 2 6 other property. 2 7 7. a. All or a portion of the taxes for the 2 8 physical plant and equipment levy shall be paid by the 2 9 school district to the municipality if the auditor 2 10 certifies to the school district by July 1 the amount 2 11 of such levy that is necessary to pay the principal 2 12 and interest on bonds issued by the municipality to 2 13 finance an urban renewal project, which bonds were 2 14 issued before July 1, 2001. Indebtedness incurred to 2 15 refund bonds issued prior to July 1, 2001, shall not 2 16 be included in the certification. Such school district 2 17 shall pay over the amount certified by November 1 and 2 18 May 1 of the fiscal year following certification to 2 19 the school district. For any fiscal year, a 2 20 municipality may certify to the county auditor for 2 21 physical plant and equipment revenue necessary for 2 22 payment of principal and interest on bonds issued 2 23 prior to July 1, 2001, only if the municipality 2 24 certified for such revenue for the fiscal year 2 25 beginning July 1, 2000. A municipality shall not 2 26 certify to the county auditor for a school district 2 27 more than the amount the municipality certified for 2 28 the fiscal year beginning July 1, 2000. If for any 2 29 fiscal year a municipality fails to certify to the 2 30 county auditor for a school district by July 1 the 2 31 amount of physical plant and equipment revenue 2 32 necessary for payment of principal and interest on 2 33 such bonds, as provided in subsection 2, the school 2 34 district is not required to pay over the revenue to 2 35 the municipality. If a school district and a 2 36 municipality are unable to agree on the amount of 2 37 physical plant and equipment revenue certified by the 2 38 municipality for the fiscal year beginning July 1, 2 39 2001, either party may request that the state appeal 2 40 board review and finally pass upon the amount that may 2 41 be certified. Such appeals must be presented in 2 42 writing to the state appeal board no later than July 2 43 31 following certification. The burden shall be on 2 44 the municipality to prove that the physical plant and 2 45 equipment levy revenue is necessary to pay principal 2 46 and interest on bonds issued prior to July 1, 2001. A 2 47 final decision must be issued by the state appeal 2 48 board no later than the following October 1. 2 49 b. All or a portion of the taxes for the 2 50 instructional support levy shall be paid by the school 3 1 district to the municipality if the auditor certifies 3 2 to the school district by July 1 the amount of such 3 3 levy that is necessary to pay the principal and 3 4 interest on bonds issued by the municipality to 3 5 finance an urban renewal project, which bonds were 3 6 issued before July 1, 2002. Indebtedness incurred to 3 7 refund bonds issued prior to July 1, 2002, shall not 3 8 be included in the certification. Such school district 3 9 shall pay over the amount certified by November 1 and 3 10 May 1 of the fiscal year following certification to 3 11 the school district. For any fiscal year, a 3 12 municipality shall not certify to the county auditor 3 13 for a school district more than the amount the 3 14 municipality certified for the fiscal year beginning 3 15 July 1, 2002. If for any fiscal year a municipality 3 16 fails to certify to the county auditor for a school 3 17 district by July 1 the amount of instructional support 3 18 property tax revenue necessary for payment of 3 19 principal and interest on such bonds, as provided in 3 20 subsection 2, the school district is not required to 3 21 pay over the revenue to the municipality. If a school 3 22 district and a municipality are unable to agree on the 3 23 amount of instructional support property tax revenue 3 24 certified by the municipality for the fiscal year 3 25 beginning July 1, 2002, either party may request that 3 26 the state appeal board review and finally pass upon 3 27 the amount that may be certified. Such appeals must 3 28 be presented in writing to the state appeal board no 3 29 later than July 31 following certification. The 3 30 burden shall be on the municipality to prove that the 3 31 instructional support property tax revenue is 3 32 necessary to pay principal and interest on bonds 3 33 issued prior to July 1, 2002. A final decision must 3 34 be issued by the state appeal board no later than the 3 35 following October 1." 3 36 #2. Page 22, by inserting after line 5 the 3 37 following: 3 38 "Sec. . EFFECTIVE DATE. The section of this 3 39 Act, amending section 403.19, being deemed of 3 40 immediate importance, takes effect upon enactment." 3 41 3 42 3 43 3 44 MIKE CONNOLLY 3 45 HF 2515.306 79 3 46 mg/cf
Text: S05251 Text: S05253 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
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