Text: SF02132 Text: SF02134 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422E.3, subsection 5, paragraph e, Code 1 2 Supplement 2003, is amended by striking the paragraph and 1 3 inserting in lieu thereof the following: 1 4 e. The amount of tax receipts credited to the account 1 5 within the secure an advanced vision for education fund 1 6 maintained in the name of a school district shall be 1 7 distributed to that school district as provided in paragraphs 1 8 "a", "b", and "c". Any additional moneys available to the 1 9 school district from the fund shall be determined and 1 10 distributed as a supplemental school infrastructure amount as 1 11 provided in section 422E.3A, subsection 3. 1 12 Sec. 2. Section 422E.3A, subsection 1, Code Supplement 1 13 2003, is amended to read as follows: 1 14 1. A secure an advanced vision for education fund is 1 15 created as a separate and distinct fund in the state treasury 1 16 under the control of the department of revenue. Moneys in the 1 17 fund include revenues credited to the fund pursuant to this 1 18 chapter, appropriations made to the fund, and other moneys 1 19 deposited into the fund. Appropriations made to the fund 1 20 shall be credited to a separate appropriations account. Any 1 21 amounts disbursed from the fund shall be utilized for school 1 22 infrastructure purposes or property tax relief. 1 23 Sec. 3. Section 422E.3A, subsections 2 through 5, Code 1 24 Supplement 2003, are amended by striking the subsections and 1 25 inserting in lieu thereof the following: 1 26 2. a. For purposes of the distributions in subsection 3, 1 27 the department of education, in consultation with the 1 28 departments of management and revenue, shall compute by June 1 1 29 preceding each budget year the infrastructure tax capacity, 1 30 statewide infrastructure tax capacity, and infrastructure tax 1 31 capacity inequity for each school district located in whole or 1 32 in part in a county that has imposed the local sales and 1 33 services tax for school infrastructure purposes under this 1 34 chapter. 1 35 b. For purposes of this section: 2 1 (1) "Actual enrollment" for a school district means the 2 2 actual enrollment as reported by October 1 to the department 2 3 of management by the department of education pursuant to 2 4 section 257.6, subsection 1. 2 5 (2) "Infrastructure tax capacity" means for a school 2 6 district the estimated amount of revenues that a school 2 7 district receives or would receive if the regular physical 2 8 plant and equipment levy of thirty-three cents per thousand 2 9 dollars is imposed, divided by the school district's actual 2 10 enrollment. 2 11 (3) "Infrastructure tax capacity inequity" means the 2 12 amount that a school district's infrastructure tax capacity is 2 13 less than the statewide infrastructure tax capacity. If a 2 14 school district's infrastructure tax capacity exceeds the 2 15 statewide infrastructure tax capacity, the school district 2 16 does not have an inequity. 2 17 (4) "Statewide infrastructure tax capacity" means the 2 18 amount determined by estimating the total revenues that would 2 19 be generated by a regular physical plant and equipment levy of 2 20 thirty-three cents per thousand dollars if imposed by all the 2 21 school districts during the budget year and dividing this 2 22 estimated revenue amount by the sum of the combined actual 2 23 enrollment for all school districts. 2 24 3. The appropriations credited in a fiscal year to the 2 25 appropriations account of the secure an advanced vision for 2 26 education fund shall be distributed as a supplemental school 2 27 infrastructure amount as follows: 2 28 a. The department of education shall compute the 2 29 infrastructure tax capacity inequity of each school district 2 30 located in whole or in part in a county that has imposed the 2 31 tax under this chapter. 2 32 b. The department of revenue, in conjunction with the 2 33 department of education, shall distribute to the extent 2 34 sufficient funds are available a supplemental school 2 35 infrastructure amount to each school district that has an 3 1 infrastructure tax capacity inequity. The amount of the 3 2 supplemental school infrastructure amount distributed shall be 3 3 an amount equal to the school district's infrastructure tax 3 4 capacity inequity. If sufficient funds are not available, the 3 5 director of revenue shall distribute to the school district 3 6 with the highest infrastructure tax capacity inequity an 3 7 amount equal to such inequity. Any additional funds shall 3 8 then be distributed to the school district with the next 3 9 highest inequity. Any additional funds will then be 3 10 distributed to the next school district in descending order of 3 11 inequity until the funds have all been distributed. 3 12 4. Moneys received by a school district as a supplemental 3 13 school infrastructure amount shall be used solely for school 3 14 infrastructure purposes and shall not be used to reduce any 3 15 property tax levy. 3 16 Sec. 4. Section 422E.4, unnumbered paragraph 1, Code 3 17 Supplement 2003, is amended to read as follows: 3 18 The board of directors of a school district shall be 3 19 authorized to issue negotiable, interest-bearing school bonds, 3 20 without election, and utilize tax receipts derived from the 3 21 sales and services tax for school infrastructure purposes and 3 22 the supplemental school infrastructure amount distributed 3 23 pursuant to section 422E.3A, subsection2, paragraph "b"3, 3 24 for principal and interest repayment. Proceeds of the bonds 3 25 issued pursuant to this section shall be utilized solely for 3 26 school infrastructure needs as school infrastructure is 3 27 defined in section 422E.1, subsection 3. Issuance of bonds 3 28 pursuant to this section shall be permitted only in a district 3 29 which has imposed a local sales and services tax for school 3 30 infrastructure purposes pursuant to section 422E.2. The 3 31 provisions of sections 298.22 through 298.24 shall apply 3 32 regarding the form, rate of interest, registration, 3 33 redemption, and recording of bond issues pursuant to this 3 34 section, with the exception that the maximum period during 3 35 which principal on the bonds is payable shall not exceed the 4 1 date of repeal stated on the ballot proposition. 4 2 Sec. 5. EFFECTIVE DATE. This Act, being deemed of 4 3 immediate importance, takes effect upon enactment. 4 4 EXPLANATION 4 5 Under present law, Code chapter 422E, school districts may 4 6 receive, through a county-imposed local option sales and 4 7 services tax for school infrastructure purposes, moneys to be 4 8 used for infrastructure or property tax levy reduction. 4 9 Specifically, the chapter provides that counties that impose 4 10 the local option sales and services tax on or after April 1, 4 11 2003, will have their tax collections placed in a secure an 4 12 advanced vision for education fund. Each school district 4 13 within such counties will receive from this fund the amount 4 14 per pupil collected in its county, not to exceed the school 4 15 district's guaranteed per pupil amount. If the amount of the 4 16 per pupil amount collected is less than the guaranteed per 4 17 pupil amount, the school district would receive a supplemental 4 18 amount per pupil equal to the difference. School districts 4 19 located in counties that have imposed the tax prior to April 4 20 1, 2003, would also have their tax collections deposited into 4 21 the fund but would receive all of the tax collected in the 4 22 county without limitation by the guaranteed per pupil amount. 4 23 However, a school district that receives less than its 4 24 guaranteed per pupil amount would also receive a supplemental 4 25 amount per pupil equal to the difference. A school district's 4 26 guaranteed per pupil amount equals $575 per pupil if the 4 27 school district has imposed the full one cent tax for the 4 28 entire fiscal year. If the tax is imposed for less than one 4 29 cent or for less than the entire fiscal year, a proportional 4 30 amount would be the guaranteed per pupil amount. 4 31 This bill amends the present distribution formula. The 4 32 bill provides that each school district would receive the 4 33 amount of local sales and services tax collected in the county 4 34 prorated, based upon its enrollment in the county. In 4 35 addition, any other moneys, including appropriations, 5 1 deposited into the secure an advanced vision for education 5 2 fund would be distributed to those school districts located in 5 3 a county that has imposed the infrastructure tax which would 5 4 not be able to raise from the 33 cents per $1,000 of assessed 5 5 value regular physical plant and equipment levy an amount per 5 6 pupil at least equal to the statewide average per pupil amount 5 7 raised by such a levy. 5 8 The bill takes effect upon enactment. 5 9 LSB 5706XS 80 5 10 mg/sh/8
Text: SF02132 Text: SF02134 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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