Text: HF02352 Text: HF02354 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 76.4, Code 2003, is amended to read as 1 2 follows: 1 3 76.4 PERMISSIVE APPLICATION OF FUNDS. 1 4 Whenever the governing authority of such political 1 5 subdivision shall have on hand funds derived from any other 1 6 source than taxation which may be appropriated to the payment 1 7 either of interest or principal, or both principal and 1 8 interest of such bonds, such funds may be so appropriated and 1 9 used and the levy for the payment of the bonds correspondingly 1 10 reduced. This section shall not restrict the authority of a 1 11 political subdivision to apply sales and services tax receipts 1 12 collected pursuant to chapter 422B for such purpose. 1 13 Notwithstanding section 422E.1, subsection 3, a school 1 14 district may apply local sales and services tax receipts 1 15 collected or anticipated pursuant to chapter 422E for the 1 16 purposes of this section. 1 17 Sec. 2. Section 422B.12, Code Supplement 2003, is amended 1 18 by adding the following new subsection: 1 19 NEW SUBSECTION. 1A. A school district shall not enter 1 20 into a chapter 28E agreement with one or more cities or 1 21 counties to receive revenues from a local option sales and 1 22 services tax imposed pursuant to this chapter unless the 1 23 majority of the area of the school district is located in a 1 24 county that has imposed a local option sales and services tax 1 25 for school infrastructure purposes pursuant to chapter 422E. 1 26 Sec. 3. Section 422E.1, subsection 2, Code Supplement 1 27 2003, is amended to read as follows: 1 28 2. The maximum rate of tax shall be one percent. The tax 1 29 shall be imposed without regard to any other local sales and 1 30 services tax authorized in chapter 422B, and is repealedat1 31the expiration of a period of ten years of imposition or a1 32shorter periodas provided in the ballot proposition or as 1 33 otherwise provided in this chapter. However, all local option 1 34 sales and services taxes for school infrastructure purposes 1 35 are repealed December 31, 2022. 2 1 Sec. 4. Section 422E.1, subsection 3, Code Supplement 2 2 2003, is amended to read as follows: 2 3 3. Local sales and services tax moneys received or 2 4 anticipated by a county for school infrastructure purposes 2 5 pursuant to this chapter shall be utilized for school 2 6 infrastructure needs or property tax relief. For purposes of 2 7 this chapter, "school infrastructure" means those activities 2 8 for which a school district is authorized to contract 2 9 indebtedness and issue general obligation bonds under section 2 10 296.1, except those activities related to a teacher's or 2 11 superintendent's home or homes. These activities include the 2 12 construction, reconstruction, repair, demolition work, 2 13 purchasing, or remodeling of schoolhouses, stadiums, gyms, 2 14 fieldhouses, and bus garages and the procurement of 2 15 schoolhouse construction sites and the making of site 2 16 improvements and those activities for which revenues under 2 17 section 298.3 or 300.2 may be spent. Additionally, "school 2 18 infrastructure" includes the payment or retirement of 2 19 outstanding bonds previously issued for school infrastructure 2 20 purposes as defined in this subsection, and the payment or 2 21 retirement of bonds issued under section 422E.4. 2 22 Sec. 5. Section 422E.2, subsection 4, paragraph a, Code 2 23 Supplement 2003, is amended to read as follows: 2 24 a. Each school district located within the county may 2 25 submit a revenue purpose statement to the county commissioner 2 26 of elections no later than sixty days prior to the election 2 27 indicating the specific purpose or purposes for which the 2 28 local sales and services tax for school infrastructure revenue 2 29 and supplemental school infrastructure amount revenue will be 2 30 expended. The revenues received pursuant to this chapter 2 31 shall be expended for the purposes indicated in the revenue 2 32 purpose statement. The revenue purpose statement may include 2 33 information regarding the school district's use of the 2 34 revenues to provide for property tax relief or debt reduction. 2 35 A copy of the revenue purpose statement shall be made 3 1 available by the school district for public inspection in 3 2 accordance with chapter 22, and a copy shall be posted by the 3 3 county commissioner of elections at the appropriate polling 3 4 places of each school district during the hours that the polls 3 5 are open, and shall be published by the county commissioner of 3 6 elections in a newspaper of general circulation in the school 3 7 district no sooner than twenty days and no later than ten days 3 8 prior to the election. The state commissioner of elections 3 9 shall establish by rule the form for the revenue purpose 3 10 statement which form shall be uniform throughout the state. 3 11 Sec. 6. Section 422E.2, subsection 4, paragraph c, Code 3 12 Supplement 2003, is amended to read as follows: 3 13 c. Counties holding an election on the local sales and 3 14 services tax for school infrastructure purposes on or after 3 15 April 1, 2003, but beforeJulyAugust 1, 2003, which approve 3 16 the imposition of the tax at the election shall expend the 3 17 revenues for any authorized infrastructure purpose of the 3 18 school district. 3 19 Sec. 7. Section 422E.2, subsection 5, paragraph a, Code 3 20 Supplement 2003, is amended to read as follows: 3 21 a. The tax may be repealed or the rate increased, but not 3 22 above one percent, or decreased, or the use of the revenues 3 23 changed after an election at which a majority of those voting 3 24 on the question of repeal, rate change, or change in use 3 25 favored the repeal, rate change, or change in use. The 3 26 election at which the question of repeal, rate change, or 3 27 change in use is offered shall be called and held in the same 3 28 manner and under the same conditions as provided in this 3 29 section for the election on the imposition of the tax. 3 30 However, an election on the change in use shall only be held 3 31 in the school district where the change in use is proposed to 3 32 occur and shall be held on the date specified by the board of 3 33 directors of the school district. However, an election on the 3 34 repeal or the decrease in the rate shall not be held if 3 35 obligations are outstanding which are payable as provided in 4 1 section 422E.4, unless funds sufficient to pay the principal, 4 2 interest, and premium, if any, on the outstanding obligations 4 3 at and prior to maturity have been properly set aside and 4 4 pledged for that purpose. The election on the repeal, rate 4 5 change, or change in use may be held at any time but not 4 6 sooner than sixty days following publication of the ballot 4 7 proposition. However, the tax shall not be repealed before it 4 8 has been in effect for one year. 4 9 Sec. 8. Section 422E.3, subsection 1, Code Supplement 4 10 2003, is amended to read as follows: 4 11 1. If a majority of those voting on the question of 4 12 imposition of a local sales and services tax for school 4 13 infrastructure purposes favors imposition of the tax, the tax 4 14 shall be imposed by the county board of supervisors within the 4 15 county pursuant to section 422E.2, at the rate specifiedfor a4 16ten-year durationon the gross receipts taxed by the state 4 17 under chapter 422, division IV, until the date of repeal 4 18 specified on the ballot. 4 19 Sec. 9. Section 422E.3A, subsection 3, paragraph b, 4 20 subparagraph (3), Code Supplement 2003, is amended to read as 4 21 follows: 4 22 (3) "Statewide tax revenues per student" means five 4 23 hundred seventy-five dollars per student. The general 4 24 assemblyshall reviewmay adjust this amountannuallyto 4 25determinebetter reflect its appropriateness. However, any 4 26 adjustment shall not result in this amount being reduced below 4 27 that in effect for the previous fiscal year. 4 28 Sec. 10. Section 422E.3A, subsection 6, unnumbered 4 29 paragraph 1, Code Supplement 2003, is amended to read as 4 30 follows: 4 31 A school district with less than two hundred fifty actual 4 32 enrollment or less than one hundred actual enrollment in the 4 33 high school shall not expend the supplemental school 4 34 infrastructure amount received for new construction or for 4 35 payments for bonds issued for new construction against the 5 1 supplemental school infrastructure amount without prior 5 2 application to the department of education and receipt of a 5 3 certificate of need pursuant to this subsection. However, a 5 4 certificate of need is not required for the payment of 5 5 outstanding bonds issued for new construction pursuant to 5 6 section 296.1, before April 1, 2003. A certificate of need is 5 7 also not required for repairing schoolhouses or buildings, 5 8 equipment, technology, or transportation equipment for 5 9 transporting students as provided in section 298.3, or for 5 10 construction necessary for compliance with the federal 5 11 Americans With Disabilities Act pursuant to 42 U.S.C. } 5 12 12101– 12117. In determining whether a certificate of need 5 13 shall be issued or denied, the department shall consider all 5 14 of the following: 5 15 Sec. 11. Section 422E.4, unnumbered paragraph 1, Code 5 16 Supplement 2003, is amended to read as follows: 5 17 The board of directors of a school district shall be 5 18 authorized to issue negotiable, interest-bearing school bonds, 5 19 without election, and utilize tax receipts derived from the 5 20 sales and services tax for school infrastructure purposes and 5 21 the supplemental school infrastructure amount distributed 5 22 pursuant to section 422E.3A, subsection 2, paragraph "b", for 5 23 principal and interest repayment. Proceeds of the bonds 5 24 issued pursuant to this section shall be utilized solely for 5 25 school infrastructure needs as school infrastructure is 5 26 defined in section 422E.1, subsection 3.Issuance of bonds5 27pursuant to this section shall be permitted only in a district5 28which has imposed a local sales and services tax for school5 29infrastructure purposes pursuant to section 422E.2. The5 30provisions of sections 298.22 through 298.24 shall apply5 31regarding the form, rate of interest, registration,5 32redemption, and recording of bond issues pursuant to this5 33section, with the exception that the maximum period during5 34which principal on the bonds is payable shall not exceed the5 35date of repeal stated on the ballot proposition.Bonds issued 6 1 under this section may be sold at public sale as provided in 6 2 chapter 75 without notice and hearing as provided in section 6 3 73A.l2. Bonds may bear dates, bear interest at rates not 6 4 exceeding that permitted by chapter 74A, mature in one or more 6 5 installments, be in registered form, carry registration and 6 6 conversion privileges, be payable as to principal and interest 6 7 at times and places, be subject to terms of redemption prior 6 8 to maturity with or without premium, and be in one or more 6 9 denominations, all as provided by the resolution of the board 6 10 of directors authorizing their issuance. The resolution may 6 11 also prescribe additional provisions, terms, conditions, and 6 12 covenants which the board of directors deems advisable, 6 13 including provisions for creating and maintaining reserve 6 14 funds, the issuance of additional bonds ranking on a parity 6 15 with such bonds and additional bonds junior and subordinate to 6 16 such bonds, and that such bonds shall rank on a parity with or 6 17 be junior and subordinate to any bonds which may be then 6 18 outstanding. Bonds may be issued to refund outstanding and 6 19 previously issued bonds under this section. Local option 6 20 sales and services tax revenue bonds are a contract between 6 21 the school district and holders, and the resolution 6 22 authorizing the issuance of the bonds and pledging local 6 23 option sales and services tax revenues to the payment of 6 24 principal and interest on the bonds is a part of the contract. 6 25 Bonds issued pursuant to this section shall not constitute 6 26 indebtedness within the meaning of any constitutional or 6 27 statutory debt limitation or restriction, and shall not be 6 28 subject to any other law relating to the authorization, 6 29 issuance, or sale of bonds. 6 30 Sec. 12. EFFECTIVE AND RETROACTIVE DATES. The section of 6 31 this Act amending section 422E.2, subsection 4, paragraph "c", 6 32 being deemed of immediate importance, takes effect upon 6 33 enactment and applies retroactively to May 30, 2003. 6 34 EXPLANATION 6 35 This bill makes amendments to the Code which are related to 7 1 the local option sales and services tax for school 7 2 infrastructure purposes under Code chapter 422E as follows: 7 3 Code sections 76.4 and 422E.1, subsection 3, are amended to 7 4 allow anticipated receipts of the tax to be used for the 7 5 payment of principal and interest on bonds issued by the 7 6 school district for infrastructure purposes or for property 7 7 tax relief. 7 8 Code section 422B.12 is amended to restrict the eligibility 7 9 of school districts to enter into chapter 28E agreements to 7 10 share a city's or county's local option sales and use tax 7 11 receipts to those school districts for which the majority of 7 12 the area of the school district is located in a county in 7 13 which a local option sales and services tax for school 7 14 infrastructure is imposed under Code chapter 422E. 7 15 Code sections 422E.1, subsection 2, and 422E.3, subsection 7 16 1, are amended to eliminate the provision that restricts the 7 17 duration of the tax to 10 years. 7 18 Code section 422E.2, subsection 4, paragraph "a", is 7 19 amended to give the county commissioner of elections the 7 20 responsibility to post the revenue purpose statement at the 7 21 polling places during election day and to publish the 7 22 statement. The form of the revenue purpose statement is to be 7 23 made uniform throughout the state as established by the state 7 24 commissioner of elections. 7 25 Code section 422E.2, subsection 4, paragraph "c", is 7 26 amended to allow school districts to use tax revenues for any 7 27 authorized infrastructure purpose even though a revenue 7 28 purpose statement has not been filed if the election on the 7 29 imposition of the tax is held between April 1, 2003, and 7 30 August 1, 2003. Present law sets the time frame between April 7 31 1, 2003, and July 1, 2003. This amendment is retroactive to 7 32 May 30, 2003. 7 33 Code section 422E.2, subsection 5, paragraph "a", is 7 34 amended to allow the board of directors of the school district 7 35 to set the date of an election on the question of a change in 8 1 the use of tax revenues. The election may be held at any time 8 2 as specified under present law. The Code section is also 8 3 amended to provide that an election for the repeal or rate 8 4 reduction is not to be held if bonds are outstanding for which 8 5 funds sufficient for the payment of these bonds have not been 8 6 set aside and pledged for that purpose. 8 7 Code section 422E.3A, subsection 3, paragraph "b", 8 8 subparagraph (3), is amended to provide that the $575 amount 8 9 established as the statewide tax revenues per student and used 8 10 to determine a school district's guaranteed school 8 11 infrastructure amount may be adjusted by the general assembly, 8 12 but any adjustment shall not result in a reduction in the 8 13 previous fiscal year's amount. 8 14 Code section 422E.3A, subsection 6, is amended to limit the 8 15 requirement of a certificate of need for use of supplemental 8 16 school infrastructure amounts for new construction or payment 8 17 of bonds used for new construction to those school districts 8 18 with actual enrollment of less than 250 or with a high school 8 19 with actual enrollment of less than 100. 8 20 Code section 422E.4 is amended to rewrite the bonding 8 21 authority of the board of directors of a school district so 8 22 that it mirrors, to a large extent, the authority set out for 8 23 city and county revenue bonds under the local option sales and 8 24 services tax imposed under Code chapter 422B. 8 25 LSB 6023YH 80 8 26 mg/sh/8
Text: HF02352 Text: HF02354 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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