Text: SF02007 Text: SF02009 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 331.427, subsection 1, unnumbered
1 2 paragraph 1, Code Supplement 2003, is amended to read as
1 3 follows:
1 4 Except as otherwise provided by state law, county revenues
1 5 from taxes and other sources for general county services shall
1 6 be credited to the general fund of the county, including
1 7 revenues received under sections 9I.11, 101A.3, 101A.7,
1 8 123.36, 123.143, 142B.6, 176A.8, 321.105, 321.152, 321G.7,
1 9 section 331.554, subsection 6, sections 341A.20, 364.3,
1 10 368.21, 422.65, 422A.2, 428A.8, 430A.3, 433.15, 434.19,
1 11 445.57, 453A.35, 458A.21, 483A.12, 533.24, 556B.1, 583.6,
1 12 602.8108, 904.908, and 906.17, and the following:
1 13 Sec. 2. NEW SECTION. 422.65 ALLOCATION OF REVENUE.
1 14 All moneys received from the franchise tax shall be
1 15 deposited in the general fund of the state. Commencing with
1 16 the fiscal year beginning July 1, 2004, there is appropriated
1 17 for each fiscal year from the franchise tax money received and
1 18 deposited in the general fund of the state the sum of eight
1 19 million eight hundred thousand dollars which shall be paid
1 20 quarterly on warrants by the director, after certification by
1 21 the director, as follows:
1 22 1. Sixty percent to the general fund of the city from
1 23 which the tax is collected.
1 24 2. Forty percent to the county from which the tax is
1 25 collected.
1 26 If the financial institution maintains one or more offices
1 27 for the transaction of business, other than its principal
1 28 office, a portion of its franchise tax shall be allocated to
1 29 each office, based upon a reasonable measure of the business
1 30 activity of each office. The director shall prescribe, for
1 31 each type of financial institution, a method of measuring the
1 32 business activity of each office. Financial institutions
1 33 shall furnish all necessary information for this purpose at
1 34 the request of the director.
1 35 Quarterly, the director shall certify to the treasurer of
2 1 state the amounts to be paid to each city and county from the
2 2 general fund of the state. All moneys received from the
2 3 franchise tax are appropriated according to the provisions of
2 4 this section.
2 5 EXPLANATION
2 6 This bill reenacts the appropriation of $8.8 million of
2 7 state franchise tax revenues and its allocation to cities and
2 8 counties. This appropriation and allocation were repealed in
2 9 2003 Iowa Acts, chapter 178, section 11. The appropriation
2 10 and allocation will commence with the fiscal year beginning
2 11 July 1, 2004.
2 12 LSB 5638XS 80
2 13 mg/sh/8
Text: SF02007 Text: SF02009 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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