Text: SF00072                           Text: SF00074
Text: SF00000 - SF00099                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index



Senate File 73

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 422.121, Code 2001, is amended to read
  1  2 as follows:
  1  3    422.121  APPROPRIATION – LIMITATION.
  1  4    Beginning with For the fiscal year years beginning on or
  1  5 after July 1, 1997, but before July 1, 2001, there is
  1  6 appropriated annually from the general fund of the state two
  1  7 million dollars to refund the credits allowed under this
  1  8 division.  There is appropriated annually from the general
  1  9 fund of the state for the fiscal year beginning July 1, 2001,
  1 10 the sum of four million dollars, for the fiscal year beginning
  1 11 July 1, 2002, the sum of six million dollars, and for the
  1 12 fiscal year beginning July 1, 2003, and subsequent fiscal
  1 13 years, the sum of eight million dollars to refund the credits
  1 14 allowed under this division.
  1 15    PARAGRAPH DIVIDED.  Notwithstanding section 422.120, for
  1 16 tax years beginning on or after January 1, 1997, the livestock
  1 17 production tax credit shall only be allowed for cow-calf
  1 18 operations.  In calculating the tax credit for cow-calf
  1 19 operations for tax years beginning in the 1997 calendar year,
  1 20 mature beef cows bred or for breeding, bred yearling heifers,
  1 21 and breeding bulls in the operations' inventory on December 31
  1 22 of the tax year which were also in the operations' inventory
  1 23 on July 1 of the tax year and stockers and feeders sold during
  1 24 the tax year may be counted.  In calculating the tax credit
  1 25 for cow-calf operations for tax years beginning on or after
  1 26 January 1, 1998, only those bred cows, bred heifers, and
  1 27 breeding bulls in the operations' inventory on December 31 of
  1 28 the tax year which were also in the operations' inventory on
  1 29 July 1 of the tax year may be counted.  
  1 30                           EXPLANATION
  1 31    This bill increases the annual appropriation from the state
  1 32 general fund for payment of livestock production tax credit
  1 33 claims.  Under current law, $2 million is appropriated.  The
  1 34 bill provides for a $4 million appropriation for FY 2001-2002,
  1 35 a $6 million appropriation for FY 2002-2003, and an $8 million
  2  1 appropriation for FY 2003-2004 and subsequent fiscal years.  
  2  2 LSB 1423SS 79
  2  3 mg/gg/8
     

Text: SF00072                           Text: SF00074
Text: SF00000 - SF00099                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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