House Journal: Page 1385: Friday, April 25, 2003
5 pursuant to subsections 1 and 2, listing for each
6 taxing district in the county:
7 Sec. 6. Section 427B.19, subsection 3, paragraph
8 c, Code 2003, is amended to read as follows:
9 c. The industrial machinery, equipment and
10 computers tax replacement claim for each taxing
11 district. For fiscal years beginning July 1, 1996,
12 and ending June 30, 2001, the replacement claim is
13 equal to the amount determined pursuant to paragraph
14 "a", multiplied by the tax rate specified in paragraph
15 "b". For fiscal years beginning July 1, 2001, and
16 ending June 30, 2006 2004, the replacement claim is
17 equal to the product of the amount determined pursuant
18 to paragraph "a", less any increase in valuations
19 determined in paragraph "d", and the tax rate
20 specified in paragraph "b". If the amount subtracted
21 under paragraph "d" is more than the amount determined
22 in paragraph "a", there is no tax replacement for the
23 fiscal year.
24 Sec. 7. Section 427B.19A, subsection 1, Code 2003,
25 is amended to read as follows:
26 1. The industrial machinery, equipment and
27 computers property tax replacement fund is created.
28 For the fiscal year beginning July 1, 1996, through
29 the fiscal year ending June 30, 2006 2004, there is
30 appropriated annually from the general fund of the
31 state to the department of revenue and finance to be
32 credited to the industrial machinery, equipment and
33 computers property tax replacement fund, an amount
34 sufficient to implement this division. However, for
35 the fiscal year beginning July 1, 2003, the amount
36 appropriated to the department of revenue and finance
37 to be credited to the industrial machinery, equipment
38 and computers tax replacement fund is ten million
39 eighty-one thousand six hundred eighty-five dollars.
40 Sec. 8. Section 427B.19C, Code 2003, is amended to
41 read as follows:
42 427B.19C ADJUSTMENT OF CERTAIN ASSESSMENTS
43 REQUIRED.
44 In the assessment year beginning January 1, 2005
45 2003, the amount of assessed value of property defined
46 in section 403.19, subsection 1, for an urban renewal
47 taxing district which received replacement moneys
48 under section 427B.19A, subsection 4, shall be reduced
49 by an amount equal to that portion of the amount of
50 assessed value of such property which was assessed
Page 3
1 pursuant to section 427B.17, subsection 3.
2 Sec. 9. Section 441.73, subsection 4, Code 2003,
3 is amended to read as follows:
© 2003 Cornell College and
League of Women Voters of Iowa
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