House Journal: Page 1279: Wednesday, April 23, 2003
H-1364
1 Amend Senate File 445, as amended, passed, and
2 reprinted by the Senate, as follows:
3 1. Page 1, by inserting before line 1 the
4 following:
5 "Section 1. NEW SECTION. 298.2A PHYSICAL PLANT
6 AND EQUIPMENT LEVY STATE FUND - DISTRIBUTION.
7 1. A physical plant and equipment levy state fund
8 is created as a separate and distinct fund in the
9 state treasury under the control of the department of
10 education. Moneys in the fund include revenues
11 deposited into the fund pursuant to subsection 2,
12 appropriations made to the fund, and other moneys
13 deposited into the fund. Any moneys disbursed from
14 the fund shall be used as provided in section 298.3.
15 2. For the school budget year beginning July 1,
16 2004, and for each succeeding budget year, the county
17 treasurer shall remit to the department of education
18 for deposit into the physical plant and equipment levy
19 state fund the property tax revenues received from the
20 collection during the school budget year of the
21 regular physical plant and equipment levy.
22 3. The amount deposited in the physical plant and
23 equipment levy state fund in a budget year shall be
24 distributed as follows:
25 a. A school district that imposed during the
26 budget year beginning July 1, 2003, the regular
27 physical plant and equipment levy and that has an
28 infrastructure tax capacity per student above the
29 guaranteed school infrastructure amount shall receive
30 an amount equal to the amount raised by its regular
31 physical plant and equipment levy.
32 b. (1) A school district that imposed during the
33 budget year beginning July 1, 2003, the regular
34 physical plant and equipment levy and that has an
35 infrastructure tax capacity per student below its
36 guaranteed school infrastructure amount shall receive
37 an amount equal to the amount raised by its regular
38 physical plant and equipment levy plus an amount equal
39 to its supplemental school infrastructure amount.
40 (2) A school district that did not impose during
41 but imposed after the budget year beginning July 1,
42 2003, the regular physical plant and equipment levy
43 shall receive an amount equal to the amount raised by
44 the regular physical plant and equipment levy, not to
45 exceed its guaranteed school infrastructure amount.
46 However, if the amount raised is less than its
47 guaranteed school infrastructure amount, the district
48 shall receive an additional amount equal to its
49 supplemental school infrastructure amount.
50 (3) A school district that had not imposed during
© 2003 Cornell College and
League of Women Voters of Iowa
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