Text: HF00140 Text: HF00142 Text: HF00100 - HF00199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. CREDIT RECERTIFICATION. A county may on or
1 2 after the effective date of this Act but before June 1, 2003,
1 3 recertify to the department of revenue and finance the total
1 4 amount of agricultural land tax credits payable during the
1 5 fiscal year beginning July 1, 2002, if the amount originally
1 6 certified was incorrect due to the fact that the amount
1 7 certified included the amount of family farm tax credits due
1 8 on land located in a particular school district and not the
1 9 amount of agricultural land tax credits due on such land. As
1 10 soon as the department of revenue and finance receives the
1 11 recertification and communicates its agreement to the validity
1 12 of the recertification to the county auditor, the county shall
1 13 pay from its general fund to those persons who qualified to
1 14 receive but did not receive during the fiscal year beginning
1 15 July 1, 2002, the pro rata percentage of the agricultural land
1 16 tax credit as recertified on agricultural land located in the
1 17 county, a sum equal to the amount of the pro rata percentage
1 18 determined pursuant to section 426.7 of the credits correctly
1 19 recertified as agreed to by the director of revenue and
1 20 finance and the county auditor.
1 21 Sec. 2. Notwithstanding any provision in chapter 426 to
1 22 the contrary, from the amount appropriated to the agricultural
1 23 land credit fund created in section 426.1, to pay tax credits
1 24 during the fiscal year beginning July 1, 2003, an amount not
1 25 to exceed the amount agreed to by the director of revenue and
1 26 finance and the county auditor for each county making payments
1 27 under section 1 of this Act shall be paid to that county to be
1 28 deposited into its general fund. The amounts paid pursuant to
1 29 this section shall be paid prior to any other payments from
1 30 the agricultural land credit fund. The remaining
1 31 appropriation to the agricultural land credit fund shall be
1 32 distributed as provided in chapter 426.
1 33 Sec. 3. EFFECTIVE DATE. This Act, being deemed of
1 34 immediate importance, takes effect upon enactment.
1 35 EXPLANATION
2 1 As a result of an error in the certification of the total
2 2 amount of agricultural land tax credits to be allowed on
2 3 agricultural land in at least one county, the total amount of
2 4 credits for that county payable during the 2002-2003 fiscal
2 5 year was reduced. This bill requires the county to pay the
2 6 amount of the reduction to those qualifying for the
2 7 agricultural land tax credit. The county will subsequently be
2 8 reimbursed for the moneys paid from the appropriation made to
2 9 the agricultural land credit fund to pay credits during the
2 10 2003-2004 fiscal year.
2 11 The bill takes effect upon enactment.
2 12 LSB 1008YH 80
2 13 mg/cl/14
Text: HF00140 Text: HF00142 Text: HF00100 - HF00199 Text: HF 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 Mar 13 02:30:16 CST 2003
URL: /DOCS/GA/80GA/Legislation/HF/00100/HF00141/030206.html
jhf