Text: H01302 Text: H01304 Text: H01300 - H01399 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend the amendment, H-1264, to Senate File 433, as
1 2 passed by the Senate, as follows:
1 3 #1. Page 1, by inserting after line 14 the
1 4 following:
1 5 "# . Page 12, by inserting after line 25 the
1 6 following:
1 7 "Sec. ___. NEW SECTION. 15.115 ACCOUNTABILITY.
1 8 1. If the department of economic development
1 9 determines that a recipient of financial assistance in
1 10 the form of a tax credit under a program administered
1 11 by the department of economic development has not met
1 12 performance measures and benchmarks developed by the
1 13 department, the department of economic development
1 14 shall notify the department of revenue and finance.
1 15 Upon notification, the department of revenue and
1 16 finance shall initiate an investigation of the failure
1 17 of the recipient to achieve the performance measures
1 18 and benchmarks. If the department of revenue and
1 19 finance determines that the performance and benchmarks
1 20 were not met by the recipient, the department of
1 21 revenue and finance shall initiate proceedings to
1 22 recover state taxes received by the recipient.
1 23 2. Any state taxes recovered by the department of
1 24 revenue and finance shall be deposited in the state
1 25 tax recovery fund. The state tax recovery fund shall
1 26 be established in the state treasury under the control
1 27 of the department of revenue and finance. Moneys in
1 28 the fund are appropriated to the department of revenue
1 29 and finance for purposes of initiating investigations
1 30 and recovery proceedings under this section. On June
1 31 30 of each fiscal year, any unobligated moneys
1 32 remaining in the fund shall be deposited in a fund
1 33 enacted by the general assembly during the 2003
1 34 legislative session and funded with bond sale proceeds
1 35 totaling more than five hundred million dollars.""
1 36 #2. By renumbering as necessary.
1 37
1 38
1 39
1 40 SHOULTZ of Black Hawk
1 41
1 42
1 43
1 44 JOCHUM of Dubuque
1 45 SF 433.308 80
1 46 tm/cf
Text: H01302 Text: H01304 Text: H01300 - H01399 Text: H Index Bills and Amendments: General Index Bill History: General Index
© 2003 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Apr 10 02:30:30 CDT 2003
URL: /DOCS/GA/80GA/Legislation/H/01300/H01303/030409.html
jhf