Senate Amendment 3103


PAG LIN




     1  1    Amend Senate File 449 as follows:
     1  2 #1.  Page 7, by striking lines 33 and 34 and
     1  3 inserting the following:
     1  4    <b.  However, if the population data for
     1  5 legislative>.
     1  6 #2.  Page 130, by inserting after line 35 the
     1  7 following:
     1  8    <Sec.    .  Section 437A.15, subsection 4,
     1  9 unnumbered paragraph 1, Code 2009, is amended to read
     1 10 as follows:
     1 11    On or before August 31 following tax years 1999,
     1 12 2000, and 2001, each county treasurer shall compute a
     1 13 special utility property tax levy or tax credit for
     1 14 each taxpayer for which a replacement tax liability
     1 15 for each such tax year is reported to the county
     1 16 treasurer pursuant to subsection 1, and shall notify
     1 17 the taxpayer of the amount of such tax levy or tax
     1 18 credit.  The amount of the special utility property
     1 19 tax levy or credit shall be determined for each
     1 20 taxpayer by the county treasurer by comparing the
     1 21 taxpayer's total replacement tax liability allocated
     1 22 to taxing districts in the county pursuant to this
     1 23 section with the anticipated tax revenues from the
     1 24 taxpayer for all taxing districts in the county.  If
     1 25 the taxpayer's total replacement tax liability
     1 26 allocated to taxing districts in the county is less
     1 27 than the anticipated tax revenues from the taxpayer
     1 28 for all taxing districts in the county, the county
     1 29 treasurer shall levy a special utility property tax
     1 30 equal to the shortfall which shall be added to and
     1 31 collected with the replacement tax owed by the
     1 32 taxpayer to the county treasurer for the tax year
     1 33 pursuant to section 437A.8, subsection 4.  If the
     1 34 taxpayer's total replacement tax liability allocated
     1 35 to taxing districts in the county exceeds the
     1 36 anticipated tax revenues from the taxpayer for all
     1 37 taxing districts in the county, the county treasurer
     1 38 shall issue a credit to the taxpayer which shall be
     1 39 applied to reduce the taxpayer's replacement tax
     1 40 liability to the county treasurer for the tax year.
     1 41 If the taxpayer's total replacement tax liability
     1 42 allocated to taxing districts in the county equals the
     1 43 anticipated tax revenues from the taxpayer for all
     1 44 taxing districts in the county, no levy or credit is
     1 45 required.  Replacement tax liability for purposes of
     1 46 this subsection means replacement tax liability before
     1 47 credits allowed by section 437A.8, subsection 7.  A
     1 48 recalculation of a special utility property tax levy
     1 49 or credit shall not be made as a result of a
     1 50 subsequent recalculation of replacement tax liability
     2  1 under section 437A.8, subsection 7, or adjustment to
     2  2 assessed value under section 437A.19, subsection 2,
     2  3 paragraph "f" "a", subparagraph (6).  "Anticipated tax
     2  4 revenues from a taxpayer" means the product of the
     2  5 total levy rates imposed by the taxing districts and
     2  6 the value of taxpayer property allocated to the taxing
     2  7 districts and reported to the county auditor.  Special
     2  8 utility property tax levies and credits shall be
     2  9 treated as replacement taxes for purposes of section
     2 10 437A.11.  If a special utility property tax levy
     2 11 payment becomes delinquent, the delinquent payment
     2 12 shall accrue interest and penalty in the same manner
     2 13 and amount as the replacement tax under section
     2 14 437A.13.>
     2 15 #3.  By renumbering as necessary.
     2 16
     2 17
     2 18                               
     2 19 COMMITTEE ON JUDICIARY
     2 20 KEITH A. KREIMAN, CHAIRPERSON
     2 21 SF 449.301 83
     2 22 lh/rj/5648

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