Text: SF00166 Text: SF00168 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.43, subsection 8, Code 2003, is 1 2 amended to read as follows: 1 3 8.AllExcept as provided in section 422.47A, revenues 1 4 arising under the operation of the provisions of this section 1 5 shall become part of thestategeneral fund of the state. 1 6 Sec. 2. NEW SECTION. 422.47A LOCAL EVENTS FACILITY FUND 1 7 – SALES TAX REVENUES. 1 8 1. A city or county shall receive one-half of the state 1 9 sales tax collected from admissions to and activities 1 10 occurring at a tourism, cultural, recreational, entertainment, 1 11 or educational event if both of the following conditions are 1 12 met: 1 13 a. The event is sponsored by a private entity in 1 14 conjunction with the city or county or agency of the city or 1 15 county. This paragraph does not require the city or county or 1 16 its agency to assist in financing the event. 1 17 b. The city or county certifies and remits the amount of 1 18 state sales tax collected within three months of the date on 1 19 which the event closes. 1 20 2. Upon receipt of state sales tax revenues derived from 1 21 admissions to and activities at events meeting the criteria 1 22 specified in subsection 1, the director shall credit one-half 1 23 to the general fund of the state and one-half to the city's or 1 24 county's account, as applicable, in a local events facility 1 25 fund. A local events facility fund is established in the 1 26 state treasury under the control of the department. 1 27 3. There is appropriated from the local events facility 1 28 fund for each fiscal year to the city or county the amount in 1 29 its account in the fund which was credited during the previous 1 30 fiscal year. Payments pursuant to this subsection shall be 1 31 made by September 15 of the fiscal year. Moneys received by a 1 32 city or county pursuant to this subsection shall be used by it 1 33 for the promotion of events to be held at the facility and at 1 34 the discretion of the city or county for the maintenance and 1 35 improvement of the facility. 2 1 EXPLANATION 2 2 This bill appropriates to a city or county one-half of the 2 3 state sales tax collected on the admissions to and activities 2 4 occurring at tourism, cultural, recreational, entertainment, 2 5 or educational events which are sponsored by the local 2 6 government and a private entity. The sales tax revenues are 2 7 certified by the local government as coming from admissions to 2 8 and activities occurring at the event. The department of 2 9 revenue and finance credits one-half of such revenues to a 2 10 special account in a local events facility fund. The city or 2 11 county receives the amount credited in the fiscal year by 2 12 September 15 of the following fiscal year. The moneys 2 13 received by the local government shall be used to promote 2 14 events to be held at the facility and to maintain and improve 2 15 the events facility. 2 16 LSB 1472XS 80 2 17 mg/sh/8
Text: SF00166 Text: SF00168 Text: SF00100 - SF00199 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 Feb 27 02:30:00 CST 2003
URL: /DOCS/GA/80GA/Legislation/SF/00100/SF00167/030218.html
jhf