Text: SF00239 Text: SF00241 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 15.115 PROMOTE IOWA FUND.
1 2 A promote Iowa fund is created in the state treasury under
1 3 the control of the department consisting of moneys
1 4 appropriated to the department and deposited in the fund
1 5 pursuant to section 422.105. Moneys in the fund are not
1 6 subject to section 8.33. Notwithstanding section 12C.7,
1 7 interest or earnings on moneys in the fund shall be credited
1 8 to the fund. Moneys in the fund shall be used for marketing,
1 9 salaries, support, maintenance, and miscellaneous purposes
1 10 related to the Iowa tourism office of the department.
1 11 Sec. 2. NEW SECTION. 422.105 PROMOTE IOWA FUND
1 12 APPROPRIATION.
1 13 1. The department of revenue and finance, in cooperation
1 14 with the department of economic development, shall determine a
1 15 tourism percentage that is the percentage of the total amount
1 16 of sales and use tax revenues that can be attributed to the
1 17 tourism industry in the state. The percentage may be
1 18 periodically reviewed and revised.
1 19 2. On August 1 of each fiscal year, the department of
1 20 revenue and finance shall calculate, based on the tourism
1 21 percentage identified in subsection 1, the dollar amount of
1 22 the total sales and use tax revenues collected during the
1 23 previous fiscal year attributed to the tourism industry and
1 24 determine whether there was an increase of more than two
1 25 percent in tourism-related sales and use tax revenues from the
1 26 fiscal year preceding the previous fiscal year. There is
1 27 appropriated from the general fund of the state to the
1 28 department of economic development on August 1 of each fiscal
1 29 year two million dollars or an amount equal to any increase
1 30 above two percent, whichever is greater. Moneys appropriated
1 31 to the department pursuant to this subsection shall be
1 32 deposited in the promote Iowa fund established in section
1 33 15.115.
1 34 EXPLANATION
1 35 This bill annually appropriates a portion of increases in
2 1 tourism-related sales and use tax revenues for purposes of a
2 2 promote Iowa fund.
2 3 The bill creates a promote Iowa fund in the state treasury
2 4 and under the control of the department of economic
2 5 development. The bill provides that moneys in the fund shall
2 6 be used for marketing, salaries, support, maintenance, and
2 7 miscellaneous purposes related to the Iowa tourism office of
2 8 the department.
2 9 The bill provides that the department of revenue and
2 10 finance, in cooperation with the department of economic
2 11 development, shall determine a tourism percentage which is the
2 12 percentage of the total amount of sales and use tax revenues
2 13 that can be attributed to the tourism industry in the state.
2 14 The bill provides that on August 1 of each fiscal year, the
2 15 department of revenue and finance shall calculate, based on
2 16 the tourism percentage identified, the dollar amount of the
2 17 total sales and use tax revenues collected during the previous
2 18 fiscal year attributed to the tourism industry and determine
2 19 whether there was an increase of more than 2 percent in
2 20 tourism-related sales and use tax revenues from the fiscal
2 21 year preceding the previous fiscal year. The bill provides
2 22 that the greater of $2 million or any increase above 2 percent
2 23 shall be appropriated from the general fund of the state to
2 24 the department of economic development for deposit in the
2 25 promote Iowa fund.
2 26 LSB 1158SS 80
2 27 tm/sh/8.2
Text: SF00239 Text: SF00241 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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