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1 22 423B, and is repealed at the expiration of a period of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1 27 for school infrastructure purposes are repealed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1 32 be repealed or reduced in rate if obligations are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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