Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 25B.7, Code 2003, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 4. Beginning with property taxes due and
1 4 payable in the fiscal year beginning July 1, 2004, the state
1 5 appropriation made to fund a property tax credit or exemption
1 6 shall not be reduced from the appropriation made for the
1 7 property tax credit or exemption for the prior fiscal year
1 8 unless the reduced appropriation receives approval of three-
1 9 fifths of the members of each house of the general assembly.
1 10 The property tax credits and exemptions subject to this
1 11 section include, but are not limited to, the following:
1 12 a. Homestead tax credit pursuant to sections 425.1 through
1 13 425.15.
1 14 b. Low-income property tax credit and elderly and disabled
1 15 property tax credit pursuant to sections 425.16 through
1 16 425.40.
1 17 c. Family farm tax credit pursuant to chapter 425A.
1 18 d. Agricultural land tax credit pursuant to chapter 426.
1 19 e. Military service property tax credit and exemption
1 20 pursuant to chapter 426A.
1 21 Sec. 2. NEW SECTION. 25B.8 PROPERTY TAX REPLACEMENT
1 22 DOLLARS.
1 23 1. The general assembly finds that property tax revenue is
1 24 no longer an equitable method of funding local government
1 25 services for residents and should be replaced with alternative
1 26 sources of revenue. The general assembly further finds that
1 27 the ownership or leasing of property is not an indication of
1 28 the amount or level of services consumed or an indication of a
1 29 person's ability to pay property taxes. It is the intent of
1 30 the general assembly to refrain from imposing property tax
1 31 increases on the property taxpayers of this state and to
1 32 replace property taxes with alternative sources of revenue.
1 33 2. For the fiscal year beginning July 1, 2004, and all
1 34 subsequent fiscal years, the general assembly shall not
1 35 approve an increase in any maximum property tax levy rate
2 1 authorized by state law unless the increased maximum property
2 2 tax levy rate receives approval of three-fifths of the members
2 3 of each house of the general assembly.
2 4 3. For the fiscal year beginning July 1, 2004, and all
2 5 subsequent fiscal years, the general assembly shall not
2 6 approve a reduction in appropriations for local government
2 7 assistance unless the reduced appropriation receives approval
2 8 of three-fifths of the members of each house of the general
2 9 assembly.
2 10 For purposes of this subsection, "local government
2 11 assistance" means those revenues estimated to be received by
2 12 political subdivisions in the budget year under chapter 426B,
2 13 chapter 437A, subchapter II, and section 257.1 as it relates
2 14 to the regular program foundation base per pupil and the
2 15 special education support services foundation base per pupil,
2 16 and sections 405A.3, 405A.4, 405A.10, and 427B.17 through
2 17 427B.19D, and amounts appropriated by the general assembly for
2 18 property tax relief first enacted for fiscal years beginning
2 19 on or after July 1, 2004.
2 20 EXPLANATION
2 21 This bill makes changes regarding state appropriations
2 22 relating to property tax credits and exemptions and local
2 23 government assistance and legislation relating to property tax
2 24 rates.
2 25 The bill provides that, beginning with the fiscal year
2 26 beginning July 1, 2004, a state appropriation made to fund a
2 27 property tax credit or exemption shall not be reduced from the
2 28 amount appropriated the year before unless the appropriation
2 29 receives approval of three-fifths of the members of each house
2 30 of the general assembly.
2 31 The bill also provides that for fiscal years beginning on
2 32 or after July 1, 2004, the general assembly shall not increase
2 33 any maximum property tax levy rate set in statute unless the
2 34 increase receives approval of three-fifths of the members of
2 35 each house of the general assembly.
3 1 The bill further provides that, for fiscal years beginning
3 2 on or after July 1, 2004, the general assembly shall not
3 3 approve a reduction in state appropriations for local
3 4 government assistance unless the reduction receives approval
3 5 of three-fifths of the members of each house of the general
3 6 assembly. The bill defines "local government assistance".
3 7 LSB 1571YC 80
3 8 sc/pj/5.1
Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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