Senate Amendment 3509


PAG LIN




     1  1    Amend House File 923, as amended, passed, and
     1  2 reprinted by the House, as follows:
     1  3 #1.  Page 1, by inserting after line 20 the
     1  4 following:
     1  5    <Sec.    .  Section 331.434, subsection 1, Code
     1  6 2007, is amended to read as follows:
     1  7    1.  The budget shall show the amount required for
     1  8 each class of proposed expenditures, a comparison of
     1  9 the amounts proposed to be expended with the amounts
     1 10 expended for like purposes for the two preceding
     1 11 years, the revenues from sources other than property
     1 12 taxation, a tax increment financing budget including
     1 13 information required under section 384.16 for each
     1 14 urban renewal area established by the county, and the
     1 15 amount to be raised by property taxation, in the
     1 16 detail and form prescribed by the director of the
     1 17 department of management.
     1 18    Sec.    .  Section 384.16, subsection 1, Code 2007,
     1 19 is amended by adding the following new paragraph:
     1 20    NEW PARAGRAPH.  d.  A tax increment financing
     1 21 budget for each urban renewal area established by the
     1 22 city.
     1 23    Sec.    .  Section 384.16, subsection 1, unnumbered
     1 24 paragraph 2, Code 2007, is amended to read as follows:
     1 25    A budget must show comparisons between the
     1 26 estimated expenditures in each program in the
     1 27 following year, the latest estimated expenditures in
     1 28 each program in the current year, and the actual
     1 29 expenditures in each program from the annual report as
     1 30 provided in section 384.22, or as corrected by a
     1 31 subsequent audit report.  Wherever practicable, as
     1 32 provided in rules of the committee, a budget,
     1 33 including the tax increment financing budget, must
     1 34 show comparisons between the levels of service
     1 35 provided by each program as estimated for the
     1 36 following year, and actual levels of service provided
     1 37 by each program during the two preceding years.
     1 38 Wherever practicable, the tax increment financing
     1 39 budget shall include estimated and actual tax
     1 40 increment financing revenues and all estimated and
     1 41 actual expenditures of the revenues, proceeds from
     1 42 debt and all estimated and actual expenditures of the
     1 43 debt proceeds, and identification of any entity
     1 44 receiving a direct payment of taxes funded by tax
     1 45 increment financing revenues.>
     1 46
     1 47
     1 48                               
     1 49 COMMITTEE ON WAYS AND MEANS
     1 50 JOE BOLKCOM, CHAIRPERSON
     2  1 HF 923.504 82
     2  2 mg/je/10053

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