Text: H01573                            Text: H01575
Text: H01500 - H01599                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 1574

Amendment Text

PAG LIN
  1  1    Amend House File 700 as follows:
  1  2    #1.  Page 10, by inserting after line 25 the
  1  3 following:
  1  4    "Sec.    .  Section 427B.19A, subsection 1, as
  1  5 amended by 2003 Iowa Acts, Senate File 453, if
  1  6 enacted, is amended to read as follows:
  1  7    1.  The industrial machinery, equipment and
  1  8 computers property tax replacement fund is created.
  1  9 For the fiscal year beginning July 1, 1996, through
  1 10 the fiscal year ending June 30, 2004, there is
  1 11 appropriated annually from the general fund of the
  1 12 state to the department of revenue and finance to be
  1 13 credited to the industrial machinery, equipment and
  1 14 computers property tax replacement fund, an amount
  1 15 sufficient to implement this division.  However, for
  1 16 the fiscal year beginning July 1, 2003, the amount
  1 17 appropriated to the department of revenue and finance
  1 18 to be credited to the industrial machinery, equipment
  1 19 and computers tax replacement fund is ten eleven
  1 20 million two hundred eighty-one thousand six hundred
  1 21 eight-five dollars."
  1 22    #2.  Page 11, by inserting after line 32 the
  1 23 following:
  1 24    "Sec.    .  FRANCHISE TAX REVENUE ALLOCATION.
  1 25 There is appropriated from the franchise tax revenues
  1 26 deposited in the general fund of the state to the
  1 27 department of revenue and finance for the fiscal year
  1 28 beginning July 1, 2003, and ending June 30, 2004,
  1 29 $8,800,000 to be allocated as follows:
  1 30    1.  Sixty percent to the general fund of the city
  1 31 from which the tax is collected.
  1 32    2.  Forty percent to the county from which the tax
  1 33 is collected.
  1 34    If the financial institution maintains one or more
  1 35 offices for the transaction of business, other than
  1 36 its principal office, a portion of its franchise tax
  1 37 shall be allocated to each office, based upon a
  1 38 reasonable measure of the business activity of each
  1 39 office.  The director of revenue and finance shall
  1 40 prescribe, for each type of financial institution, a
  1 41 method of measuring the business activity of each
  1 42 office.  Financial institutions shall furnish all
  1 43 necessary information for this purpose at the request
  1 44 of the director.  The allocation shall be distributed
  1 45 quarterly.
  1 46    Sec.    .  2003 Iowa Acts, Senate File 453, section
  1 47 28, if enacted, is repealed." 
  1 48 
  1 49 
  1 50                               
  2  1 SCHICKEL of Cerro Gordo
  2  2 
  2  3 
  2  4                               
  2  5 RAECKER of Polk
  2  6 
  2  7 
  2  8                               
  2  9 TJEPKES of Webster
  2 10 
  2 11 
  2 12                               
  2 13 HOFFMAN of Crawford
  2 14 HF 700.703 80
  2 15 mg/cl
     

Text: H01573                            Text: H01575
Text: H01500 - H01599                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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