Text: HSB00716 Text: HSB00718 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. TRANSFER FOR ENVIRONMENT FIRST FUND.
1 2 Notwithstanding any conflicting provisions of section 8.56,
1 3 there is transferred from the cash reserve fund created in
1 4 section 8.56, to the rebuild Iowa infrastructure fund created
1 5 in section 8.57 for the fiscal year beginning July 1, 2003,
1 6 and ending June 30, 2004, the following amount for the purpose
1 7 designated:
1 8 To be used for the appropriation made in section 8.57A,
1 9 subsection 4, from the rebuild Iowa infrastructure fund to the
1 10 environment first fund created in section 8.57A:
1 11 .................................................. $ 17,500,000
1 12 Sec. 2. CASH RESERVE FUND.
1 13 1. Notwithstanding section 8.33 and the nonreversion
1 14 provisions in 2002 Iowa Acts, chapter 1173, section 22,
1 15 subsection 1, and 2003 Iowa Acts, chapter 177, section 21,
1 16 subsection 1, moneys in the environment first fund remaining
1 17 unencumbered or unobligated at the end of the fiscal year
1 18 beginning July 1, 2003, shall be transferred to the cash
1 19 reserve fund.
1 20 2. Notwithstanding subsection 1, the total amount
1 21 transferred pursuant to subsection 1 shall not exceed
1 22 $17,500,000. The transfer to the cash reserve fund specified
1 23 in subsection 1 shall not apply to any unencumbered or
1 24 unobligated moneys that are not to revert as provided in 2002
1 25 Iowa Acts, chapter 1173, section 22, subsection 2, and 2003
1 26 Iowa Acts, chapter 177, section 21, subsection 2.
1 27 Sec. 3. RACETRACK TAX PROCEEDS – CASH RESERVE FUND
1 28 TRANSFER. If a tax on racetrack enclosures conducting
1 29 gambling games is enacted by the Eightieth General Assembly,
1 30 2004 Regular Session, that is applicable to the period
1 31 beginning July 1, 2002, and ending June 30, 2004, from the tax
1 32 proceeds which are credited to the rebuild Iowa infrastructure
1 33 fund, an amount of such proceeds equal to the difference
1 34 between $17,500,000 and the amount transferred to the cash
1 35 reserve fund pursuant to section 2 of this Act shall be
2 1 transferred to the cash reserve fund.
2 2 Sec. 4. EFFECTIVE DATE. This Act, being deemed of
2 3 immediate importance, takes effect upon enactment.
2 4 EXPLANATION
2 5 This bill makes a transfer from the cash reserve fund to
2 6 the rebuild Iowa infrastructure fund (RIIF) for fiscal year
2 7 2003-2004. The transferred moneys are to be used for the
2 8 standing appropriation from RIIF to the environment first
2 9 fund. The transfer is exempt from provisions in Code section
2 10 8.56 which otherwise prohibit transfers from the cash reserve
2 11 fund or use of the moneys in the fund by means other than an
2 12 appropriation.
2 13 The bill provides for transfer of the unencumbered or
2 14 unobligated balance in the environment first fund to the cash
2 15 reserve fund at the close of fiscal year 2003-2004. This
2 16 transfer is exempt from the Code section 8.33 provisions
2 17 providing for reversion of appropriations at the close of a
2 18 fiscal year and from 2002 and 2003 session law provisions that
2 19 moneys remaining unencumbered or unobligated in the
2 20 environment first fund at the close of the fiscal year shall
2 21 remain available in the fund. If a tax on racetrack
2 22 enclosures conducting gambling games is enacted by the
2 23 Eightieth General Assembly, 2004 Regular Session, that is
2 24 applicable to the period beginning July 1, 2002, and ending
2 25 June 30, 2004, and the proceeds are credited to RIIF, the
2 26 ending balance transfer is to be reduced accordingly.
2 27 The bill takes effect upon enactment.
2 28 LSB 5445YC 80
2 29 jp/sh/8.1
Text: HSB00716 Text: HSB00718 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
© 2004 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: Tue Mar 9 03:31:07 CST 2004
URL: /DOCS/GA/80GA/Legislation/HSB/00700/HSB00717/040308.html
jhf