Text: SF00012 Text: SF00014 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. HOMESTEAD TAX CREDIT. 1 2 1. There is appropriated from the general fund of the 1 3 state to the department of revenue and finance for the fiscal 1 4 year beginning July 1, 2002, and ending June 30, 2003, the 1 5 following amount for the purpose designated: 1 6 For reimbursing counties for granting homestead tax credits 1 7 as provided in subsection 2: 1 8 .................................................. $ 5,331,296 1 9 2. The appropriation made in subsection 1 shall be used to 1 10 reimburse counties, to the extent not previously reimbursed, 1 11 that granted to taxpayers the maximum allowable homestead 1 12 credit pursuant to section 425.1 for taxes payable in the 1 13 fiscal year beginning July 1, 2002. Payments made pursuant to 1 14 this subsection shall not be made sooner than March 15, 2003. 1 15 3. The appropriation in subsection 1 is in addition to the 1 16 appropriation made in section 425.1 as limited by 2002 Iowa 1 17 Acts, chapter 1171, section 175, subsection 10, as amended by 1 18 2002 Iowa Acts, Second Extraordinary Session, chapter 1003, 1 19 section 181. 1 20 Sec. 2. ELDERLY AND DISABLED TAX CREDIT. 1 21 1. There is appropriated from the general fund of the 1 22 state to the department of revenue and finance for the fiscal 1 23 year beginning July 1, 2002, and ending June 30, 2003, the 1 24 following amount for the purpose designated: 1 25 For reimbursing counties for granting elderly and disabled 1 26 tax credits as provided in subsection 2: 1 27 .................................................. $ 89,303 1 28 2. The appropriation made in subsection 1 shall be used to 1 29 reimburse counties, to the extent not previously reimbursed, 1 30 that granted to taxpayers the maximum allowable elderly and 1 31 disabled tax credit pursuant to section 425.23 for taxes 1 32 payable in the fiscal year beginning July 1, 2002. Payments 1 33 made pursuant to this subsection shall not be made sooner than 1 34 March 15, 2003. 1 35 3. The appropriation in subsection 1 is in addition to the 2 1 appropriation made in section 425.39 as limited by 2002 Iowa 2 2 Acts, chapter 1171, section 176, as amended by 2002 Iowa Acts, 2 3 Second Extraordinary Session, chapter 1003, section 182. 2 4 Sec. 3. MILITARY SERVICE TAX CREDIT. 2 5 1. There is appropriated from the general fund of the 2 6 state to the department of revenue and finance for the fiscal 2 7 year beginning July 1, 2002, and ending June 30, 2003, the 2 8 following amount for the purpose designated: 2 9 For reimbursing counties for granting military service tax 2 10 credit exemptions as provided in subsection 2: 2 11 .................................................. $ 79,475 2 12 2. The appropriation made in subsection 1 shall be used to 2 13 reimburse counties, to the extent not previously reimbursed, 2 14 that granted to taxpayers the maximum allowable military 2 15 service tax exemption pursuant to section 426A.11 for taxes 2 16 payable in the fiscal year beginning July 1, 2002. Payments 2 17 made pursuant to this subsection shall not be made sooner than 2 18 March 15, 2003. 2 19 3. The appropriation in subsection 1 is in addition to the 2 20 appropriation made in section 426A.1A as limited by 2002 Iowa 2 21 Acts, chapter 1171, section 175, subsection 12. 2 22 Sec. 4. AGRICULTURAL LAND TAX CREDIT. 2 23 1. There is appropriated from the general fund of the 2 24 state to the department of revenue and finance for the fiscal 2 25 year beginning July 1, 2002, and ending June 30, 2003, the 2 26 following amount for the purpose designated: 2 27 For reimbursing counties for granting agricultural land tax 2 28 credits as provided in subsection 2: 2 29 .................................................. $ 1,921,076 2 30 2. The appropriation made in subsection 1 shall be used to 2 31 reimburse counties, to the extent not previously reimbursed, 2 32 that granted to taxpayers the maximum percentage allowable for 2 33 agricultural land tax credit pursuant to section 426.7 for 2 34 taxes payable in the fiscal year beginning July 1, 2002. 2 35 Payments made pursuant to this subsection shall not be made 3 1 sooner than March 15, 2003. 3 2 3. The appropriation in subsection 1 is in addition to the 3 3 appropriation made in section 426.1 as limited by 2002 Iowa 3 4 Acts, chapter 1171, section 175, subsection 11, as amended by 3 5 2002 Iowa Acts, Second Extraordinary Session, chapter 1003, 3 6 section 181. 3 7 Sec. 5. EFFECTIVE DATE. This Act, being deemed of 3 8 immediate importance, takes effect upon enactment. 3 9 EXPLANATION 3 10 This bill makes supplemental appropriations for FY 2002- 3 11 2003 to the department of revenue and finance to reimburse 3 12 those counties that granted the maximum allowable homestead 3 13 credit, elderly and disabled tax credit, military service tax 3 14 exemption, and agricultural land tax credit. Previously, the 3 15 reimbursements to these counties had been reduced pursuant to 3 16 legislation enacted in the 2002 Regular Session and 2002 3 17 Second Extraordinary Session. 3 18 The bill takes effect upon enactment. 3 19 LSB 1320XS 80 3 20 mg/cl/14
Text: SF00012 Text: SF00014 Text: SF00000 - SF00099 Text: SF 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 Jan 22 03:30:01 CST 2004
URL: /DOCS/GA/80GA/Legislation/SF/00000/SF00013/030114.html
jhf