Text: SF00023 Text: SF00025 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 405A.8, Code 2003, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 1A. a. Before the amount appropriated
1 4 under this section is allocated pursuant to the provisions of
1 5 this chapter, the amount computed in paragraph "b" shall be
1 6 deducted from the appropriation and paid to a city-county
1 7 consolidated government formed under sections 331.247 through
1 8 331.252 or a community commonwealth formed under sections
1 9 331.260 through 331.263.
1 10 b. Each year for ten years following the formation of a
1 11 city-county consolidated government or a community
1 12 commonwealth government, each such government shall be paid an
1 13 amount equal to five dollars multiplied by the population of
1 14 the consolidated government or commonwealth areas. The amount
1 15 due each city-county consolidated government or each community
1 16 commonwealth for each fiscal year shall be paid in the form of
1 17 a warrant payable to the treasurer of the respective
1 18 consolidated or commonwealth governments by the department of
1 19 revenue and finance according to the schedule in section
1 20 405A.9.
1 21 c. The payment made under this subsection is in addition
1 22 to the personal property tax replacement allocation due the
1 23 city-county consolidated government or the community
1 24 commonwealth.
1 25 Sec. 2. Section 427A.12, subsection 1, Code 2003, is
1 26 amended to read as follows:
1 27 1. A personal property tax replacement fund is established
1 28 as a permanent fund in the office of the treasurer of state,
1 29 for the purpose of reimbursing the taxing districts for their
1 30 loss of revenue from personal property taxes due to the
1 31 provisions of this chapter, determined as provided in this
1 32 section, and for making payments to city-county consolidated
1 33 governments and community commonwealths pursuant to section
1 34 405A.8.
1 35 EXPLANATION
2 1 This bill provides that before the state appropriation to
2 2 the personal property tax replacement fund is allocated among
2 3 local governments, an amount shall be paid to city-county
2 4 consolidated governments and community commonwealths in
2 5 addition to the amount they are allocated under the personal
2 6 property tax replacement formula. The amount to be paid to a
2 7 city-county consolidated government or a community
2 8 commonwealth is equal to $5.00 per capita. The payments are
2 9 to be paid for 10 years following formation of the city-county
2 10 consolidated government or the community commonwealth.
2 11 LSB 1068XS 80
2 12 sc/pj/5
Text: SF00023 Text: SF00025 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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