Text: HF00498 Text: HF00500 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 260C.26 ADDITIONAL INSTRUCTIONAL
1 2 SUPPORT LEVY.
1 3 1. In addition to the tax authorized under sections
1 4 260C.17, 260C.22, and 260C.28, and notwithstanding section
1 5 260C.17, unnumbered paragraph 2, the voters in any merged area
1 6 may at the annual school election vote a tax not exceeding ten
1 7 cents per thousand dollars of assessed value in any one year
1 8 for a period not to exceed ten years for additional
1 9 instructional support. The tax shall be collected by the
1 10 county treasurers and remitted to the department of revenue
1 11 and finance, to be deposited in a separate fund established
1 12 within the state treasury to be known as the additional
1 13 instructional support fund. The tax shall be distributed to
1 14 the merged areas as provided in subsection 3.
1 15 2. In order to make immediately available to the merged
1 16 area the proceeds of the voted tax authorized to be levied in
1 17 subsection 1, the board of directors of any such merged area
1 18 is authorized, without the necessity for any further election,
1 19 to borrow money and enter into loan agreements in anticipation
1 20 of the collection of the tax, in the same manner and subject
1 21 to the same conditions as provided for the facilities levy
1 22 imposed pursuant to section 260C.22, subsection 1, paragraphs
1 23 "b" through "e".
1 24 3. In order to assure an equitable distribution of
1 25 additional support levy revenue between merged areas that have
1 26 imposed the tax, the tax collected and deposited into the
1 27 additional instructional support fund pursuant to subsection 1
1 28 shall be allocated to each merged area imposing the levy in
1 29 the following manner and sequence:
1 30 a. BASE FUNDING. The amount of additional instructional
1 31 support levy revenue each community college received as an
1 32 allocation from the additional instructional support levy fund
1 33 in the base year.
1 34 b. INFLATION RATE. After the base funding has been
1 35 determined, a two percent inflation increase shall be
2 1 multiplied by each college's additional instructional support
2 2 levy revenue allocation from the base year.
2 3 c. If the increase in the amount of additional
2 4 instructional support levy revenue exceeds two percent, an
2 5 amount up to one percent shall be distributed based upon each
2 6 college's most recently determined proportional share of full-
2 7 time equivalent enrollment.
2 8 d. ADDITIONAL INFLATION RATE. If the inflation rate
2 9 exceeds two percent and the increase in levy revenue permits,
2 10 each community college's allocation shall be increased until
2 11 the inflation rate is satisfied.
2 12 e. ADDITIONAL PROPORTIONAL SHARE OF TOTAL FULL-TIME
2 13 EQUIVALENT ENROLLMENT. If the increase in the amount of
2 14 additional instructional support levy revenue exceeds the
2 15 funds needed to meet the allocation requirements in paragraphs
2 16 "a" through "d" above, the remaining amount shall be
2 17 distributed based on each college's most recent proportional
2 18 share of full-time equivalent enrollment.
2 19 f. If the increase in the amount of additional
2 20 instructional support levy revenue is equal to or less than
2 21 two percent, the increase shall be distributed as inflation.
2 22 For the purposes of this section, one full-time equivalent
2 23 enrollment equals twenty-four credit hours for credit courses,
2 24 or six hundred contact hours for noncredit courses, generated
2 25 by all eligible community college students enrolled in
2 26 eligible courses. The department of revenue and finance, in
2 27 consultation with the department of education, shall establish
2 28 by rule a method or formula for determining the amount of base
2 29 funding in the first year of imposition of the levy.
2 30 Sec. 2. EFFECTIVE DATE. This Act, being deemed of
2 31 immediate importance, takes effect upon enactment.
2 32 EXPLANATION
2 33 This bill provides for the imposition of an additional
2 34 property tax levy for community colleges.
2 35 The bill provides that the voters in any merged area may at
3 1 the annual school election vote a tax not exceeding 10 cents
3 2 per $1,000 of assessed value in any one year for a period not
3 3 to exceed 10 years for additional instructional support. The
3 4 bill provides that the tax shall be collected by the county
3 5 treasurers and remitted to the department of revenue and
3 6 finance, to be deposited in a separate fund established within
3 7 the state treasury to be known as the additional instructional
3 8 support fund.
3 9 The bill provides that provisions contained in Code section
3 10 260C.22, relating to making proceeds immediately available to
3 11 the merged area via entering into loan agreements in
3 12 anticipation of the collection of such tax, shall be
3 13 applicable to the new tax for additional instructional
3 14 support.
3 15 The bill provides that to assure an equitable distribution
3 16 of revenue, the tax revenue shall be subject to reallocation
3 17 by the department of revenue and finance. The bill provides
3 18 that the tax shall be distributed to each merged area based
3 19 upon an allocation formula which provides for base funding in
3 20 an amount of additional instructional support levy revenue
3 21 which each community college received as an allocation from
3 22 the additional instructional support levy fund in the base
3 23 year, followed by a 2 percent inflation increase multiplied by
3 24 each college's additional instructional support levy revenue
3 25 allocation from the base year. The bill provides that if the
3 26 increase in the amount of additional instructional support
3 27 levy revenue exceeds 2 percent, an amount up to 1 percent
3 28 shall be distributed based upon each college's most recently
3 29 determined proportional share of full-time equivalent
3 30 enrollment. The bill provides that if the inflation rate
3 31 exceeds 2 percent and the increase in revenue permits, each
3 32 community college's allocation shall be increased until the
3 33 inflation rate is satisfied. The bill provides that if the
3 34 increase in the amount of additional instructional support
3 35 levy revenue exceeds the funds needed to meet these allocation
4 1 requirements, the remaining amount shall be distributed based
4 2 on each college's most recent proportional share of full-time
4 3 equivalent enrollment, and that if the increase in the amount
4 4 of additional instructional support levy revenue is equal to
4 5 or less than 2 percent, the increase shall be distributed as
4 6 inflation. The bill provides a definition of full-time
4 7 equivalent enrollment, and provides that for purposes of
4 8 determining the amount of base funding in the first year of
4 9 imposition of the levy, the department of revenue and finance,
4 10 in consultation with the department of education, shall by
4 11 rule determine a formula or procedure for establishing the
4 12 base funding amount.
4 13 The bill takes effect upon enactment.
4 14 LSB 2447YH 80
4 15 rn/cl/14.1
Text: HF00498 Text: HF00500 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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