423.24  Deposit of revenue--appropriations.

Except as otherwise provided in section 312.2, subsection 14, all revenues derived from the use tax on motor vehicles, trailers, and motor vehicle accessories and equipment as collected pursuant to sections 423.7 and 423.7A shall be deposited and credited to the road use tax fund and shall be used exclusively for the construction, maintenance, and supervision of public highways.

1.  Notwithstanding any provision of this section which provides that all revenues derived from the use tax on motor vehicles, trailers, and motor vehicle accessories and equipment as collected pursuant to section 423.7 and section 423.7A shall be deposited and credited to the road use tax fund, eighty percent of the revenues shall be deposited and credited as follows:

a.  Twenty-five percent of all such revenue, up to a maximum of four million two hundred fifty thousand dollars per quarter, shall be deposited into and credited to the Iowa comprehensive petroleum underground storage tank fund created in section 455G.3, and the moneys so deposited are a continuing appropriation for expenditure under chapter 455G, and moneys so appropriated shall not be used for other purposes.

b.  Any such revenues remaining shall be credited to the road use tax fund.

2.  Notwithstanding any other provision of this section that provides that all revenue derived from the use tax on motor vehicles, trailers, and motor vehicle accessories and equipment as collected pursuant to section 423.7 shall be deposited and credited to the road use tax fund, twenty percent of the revenues shall be credited and deposited as follows:  one-half to the road use tax fund and one-half to the primary road fund to be used for the commercial and industrial highway network.

3.  All other revenue arising under the operation of this chapter shall be credited to the general fund of the state.

Section History: Early form

  [C39, § 6943.124; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 423.24]

Section History: Recent form

  87 Acts, ch 232, § 26; 90 Acts, ch 1235, § 8; 91 Acts, ch 252, § 1; 92 Acts, ch 1099, §6, 10; 92 Acts, ch 1239, §41; 92 Acts, 2nd Ex, ch 1001, § 212; 93 Acts, ch 180, §7; 94 Acts, ch 1119, §29, 36; 95 Acts, ch 67, §49; 95 Acts, ch 215, §1, 29; 95 Acts, ch 220, §24; 96 Acts, ch 1125, § 6; 97 Acts, ch 207, §11, 13-15; 98 Acts, ch 1207, §13-17, 19; 99 Acts, ch 202, §21

Internal References

  Referred to in § 312.1, 312.2, 321.34, 327I.26, 455G.3, 455G.6, 455G.8

Footnotes

  Road use tax fund, § 312.1

  Subsection 1, former paragraph b stricken effective July 1, 2000; prior amendments and repeals stricken; 94 Acts, ch 1119, §29, 36; 95 Acts, ch 67, §49; 97 Acts, ch 207, §11, 13-15


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