Senate Amendment 5408


PAG LIN




     1  1    Amend House File 2663, as passed by the House, as
     1  2 follows:
     1  3 #1.  By striking everything after the enacting
     1  4 clause and inserting the following:
     1  5    <Section 1.  Section 8.57, subsection 6, paragraph
     1  6 f, Code Supplement 2007, is amended to read as
     1  7 follows:
     1  8    f.  There is appropriated from the rebuild Iowa
     1  9 infrastructure fund to the secure an advanced vision
     1 10 for education fund created in section 423E.4, for each
     1 11 the fiscal year of the fiscal period beginning July 1,
     1 12 2004, and ending June 30, 2014 each succeeding fiscal
     1 13 year, the amount of the moneys in excess of the first
     1 14 forty=seven million dollars credited to the rebuild
     1 15 Iowa infrastructure fund during the fiscal year, not
     1 16 to exceed ten million dollars.
     1 17    Sec. 2.  Section 423E.1, subsection 2, Code 2007,
     1 18 is amended to read as follows:
     1 19    2.  The maximum rate of tax shall be one percent.
     1 20 The tax shall be imposed without regard to any other
     1 21 local sales and services tax authorized in chapter
     1 22 423B, and is repealed at the expiration of a period of
     1 23 ten years of imposition or a shorter period as
     1 24 provided in the ballot proposition unless the period
     1 25 is extended as provided in section 423E.2, subsection
     1 26 5.  However, all local option sales and services taxes
     1 27 for school infrastructure purposes are repealed
     1 28 December 31, 2022.
     1 29    Sec. 3.  Section 423E.2, subsection 5, paragraph c,
     1 30 Code Supplement 2007, is amended to read as follows:
     1 31    c.  A local option sales and services tax shall not
     1 32 be repealed or reduced in rate if obligations are
     1 33 outstanding which are payable as provided in section
     1 34 423E.5, unless funds sufficient to pay the principal,
     1 35 interest, and premium, if any, on the outstanding
     1 36 obligations at and prior to maturity have been
     1 37 properly set aside and pledged for that purpose.
     1 38 However, this paragraph does not apply to the repeal
     1 39 of the tax on December 31, 2022, as specified in
     1 40 section 423E.1, subsection 2.
     1 41    Sec. 4.  Section 423E.4, subsection 3, paragraph a,
     1 42 Code 2007, is amended to read as follows:
     1 43    a.  The director of revenue by August 15 of each
     1 44 fiscal year shall compute the guaranteed school
     1 45 infrastructure amount for each school district, each
     1 46 school district's sales tax capacity per student for
     1 47 each county, the statewide tax revenues per student,
     1 48 and the supplemental school infrastructure amount for
     1 49 the coming fiscal year.
     1 50    Sec. 5.  Section 423E.4, subsection 3, paragraph b,
     2  1 subparagraph (3), Code 2007, is amended by striking
     2  2 the subparagraph and inserting in lieu thereof the
     2  3 following:
     2  4    (3)  "Statewide tax revenues per student" means the
     2  5 greater of the following amounts:
     2  6    (a)  The amount determined by estimating the total
     2  7 revenues that would be generated by a one percent
     2  8 local option sales and services tax for school
     2  9 infrastructure purposes if imposed by all the counties
     2 10 during the entire fiscal year and dividing this
     2 11 estimated revenue amount by the sum of the combined
     2 12 actual enrollment for all counties as determined in
     2 13 section 423E.3, subsection 5, paragraph "d",
     2 14 subparagraph (2).
     2 15    (b)  Five hundred seventy=five dollars per student.
     2 16    Sec. 6.  Section 423E.4, Code 2007, is amended by
     2 17 adding the following new subsections:
     2 18    NEW SUBSECTION.  5A.  For the fiscal year beginning
     2 19 July 1, 2008, if any school district will not receive
     2 20 a distribution under this section from the fund equal
     2 21 to at east five hundred seventy=five dollars per
     2 22 student, there is appropriated from the surplus
     2 23 existing in the general fund of the state at the
     2 24 conclusion of the fiscal year beginning July 1, 2007,
     2 25 to the secure an advanced vision for education fund an
     2 26 amount to be distributed to such school districts so
     2 27 that the amount received for the fiscal year beginning
     2 28 July 1, 2008, will equal five hundred seventy=five
     2 29 dollars per student.  The appropriation under this
     2 30 subsection shall be made prior to the appropriation
     2 31 and distribution to the senior living trust fund and
     2 32 cash reserve fund of the surplus existing in the
     2 33 general fund of the state at the conclusion of the
     2 34 fiscal year beginning July 1, 2007.
     2 35    NEW SUBSECTION.  5B.  For the fiscal year beginning
     2 36 July 1, 2009, and each subsequent fiscal year, if any
     2 37 school district will not receive a distribution under
     2 38 this section from the fund equal to at least five
     2 39 hundred seventy=five dollars per student, there is
     2 40 appropriated from the general fund of the state to the
     2 41 secure an advanced vision for education fund an amount
     2 42 to be distributed to such school districts so that the
     2 43 amount received for the fiscal year will equal five
     2 44 hundred seventy=five dollars per student.
     2 45    Sec. 7.  Section 423E.7, Code 2007, is repealed.
     2 46    Sec. 8.  CONSTITUTIONAL AMENDMENT == INTENT.  It is
     2 47 the intent of the general assembly that an amendment
     2 48 to the Constitution of the State of Iowa be proposed
     2 49 and passed by two successive general assemblies and
     2 50 submitted to the voters of the state that provides the
     3  1 following:
     3  2    All revenues derived from the imposition and
     3  3 collection of a local sales and services tax for
     3  4 school infrastructure purposes be distributed to
     3  5 school districts of the state to be used exclusively
     3  6 for school infrastructure proposes or school property
     3  7 tax relief, including the payment of principal and
     3  8 interest on bonds issued for school infrastructure
     3  9 purposes.>
     3 10 #2.  Title page, by striking lines 1 through 7 and
     3 11 inserting the following:  <An Act relating to the
     3 12 local sales and services tax for school infrastructure
     3 13 purposes and providing for appropriations, if
     3 14 necessary.>
     3 15
     3 16
     3 17                               
     3 18 LARRY McKIBBEN
     3 19
     3 20
     3 21                               
     3 22 JEFF ANGELO
     3 23 HF 2663.518 82
     3 24 mg/ml/12

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