Amend Senate File 53 as follows:
   1.  By striking everything after the enacting clause and inserting: 

DIVISION I

TAXPAYERS TRUST FUND
   Section 1.  Section 8.54, subsection 5, Code 2013, is amended by striking the subsection.
   Sec. 2.  Section 8.55, subsection 2, Code 2013, is amended to read as follows:
   2.  The maximum balance of the fund is the amount equal to two and one-half percent of the adjusted revenue estimate for the fiscal year. If the amount of moneys in the Iowa economic emergency fund is equal to the maximum balance, moneys in excess of this amount shall be distributed as follows:
   a.  The first sixty million dollars of the difference between the actual net revenue for the general fund of the state for the fiscal year and the adjusted revenue estimate for the fiscal year shall be transferred to the taxpayers trust fund.
   b.  The remainder of the excess, if any, shall be transferred to the general fund of the state.
   Sec. 3.  Section 8.57E, subsection 2, Code 2013, is amended to read as follows:
   2.  Moneys in the taxpayers trust fund shall only be used pursuant to appropriations
 
or transfers made by the general assembly for tax relief.
   Sec. 4.  Section 8.58, Code 2013, is amended to read as follows:
   8.58  Exemption from automatic application.
   1.  To the extent that moneys appropriated under section 8.57 do not result in moneys being credited to the general fund under section 8.55, subsection 2, moneys
 
Moneys appropriated under
 
in section 8.57 and moneys contained in the cash reserve fund, rebuild Iowa infrastructure fund, environment first fund, Iowa economic emergency fund, and taxpayers trust fund shall not be considered in the application of any formula, index, or other statutory triggering mechanism which would affect appropriations, payments, or taxation rates, contrary provisions of the Code notwithstanding.
   2.  To the extent that moneys appropriated under section 8.57 do not result in moneys being credited to the general fund under section 8.55, subsection 2, moneys
 
Moneys appropriated under
 
in section 8.57 and moneys contained in the cash reserve fund, rebuild Iowa infrastructure fund, environment first fund, Iowa economic emergency fund, and taxpayers trust fund shall not be considered by an arbitrator or in negotiations under chapter 20.
   Sec. 5.  EFFECTIVE UPON ENACTMENT.  This division of this Act, being deemed of immediate importance, takes effect upon enactment.
   Sec. 6.  RETROACTIVE APPLICABILITY.  This division of this Act applies retroactively to July 1, 2012, to moneys attributed to fiscal years beginning on or after July 1, 2012.

DIVISION II

IOWA TAXPAYERS TRUST FUND TAX CREDIT
   Sec. 7.  TAXPAYERS TRUST FUND —— IOWA TAXPAYERS TRUST FUND TAX CREDIT TRANSFER.  During the fiscal year beginning July 1, 2013, there is transferred from the taxpayers trust fund created in section 8.57E to the Iowa taxpayers trust fund tax credit fund created in section 422.11E, an amount equal to the sum of the balance of the taxpayers trust fund as determined after the close of the fiscal year beginning July 1, 2012, and ending June 30, 2013, including the amount transferred for that fiscal year to the taxpayers trust fund from the Iowa economic emergency fund created in section 8.55 in the fiscal year beginning July 1, 2013, and ending June 30, 2014, to be used for the Iowa taxpayers trust fund tax credit in accordance with section 422.11E, subsection 5.
   Sec. 8.  Section 257.21, Code 2013, is amended to read as follows:
   257.21  Computation of instructional support amount.
   1.  The department of management shall establish the amount of instructional support property tax to be levied and the amount of instructional support income surtax to be imposed by a district in accordance with the decision of the board under section 257.19 for each school year for which the instructional support program is authorized. The department of management shall determine these amounts based upon the most recent figures available for the district’s valuation of taxable property, individual state income tax paid, and budget enrollment in the district, and shall certify to the district’s county auditor the amount of instructional support property tax, and to the director of revenue the amount of instructional support income surtax to be imposed if an instructional support income surtax is to be imposed.
   2.  The instructional support income surtax shall be imposed on the state individual income tax for the calendar year during which the school’s budget year begins, or for a taxpayer’s fiscal year ending during the second half of that calendar year and after the date the board adopts a resolution to participate in the program or the first half of the succeeding calendar year, and shall be imposed on all individuals residing in the school district on the last day of the applicable tax year. As used in this section, “state individual income tax” means the taxes computed under section 422.5, less the amounts of nonrefundable credits allowed under chapter 422, division II, except for the Iowa taxpayers trust fund tax credit allowed under section 422.11E.
   Sec. 9.  NEW SECTION.  422.11E  Iowa taxpayers trust fund tax credit.
   1.  For purposes of this section, unless the context otherwise requires:
   a.  “Eligible individual” means, with respect to a tax year, an individual who makes and files an individual income tax return pursuant to section 422.13. “Eligible individual” does not include an estate or trust, or an individual for whom an individual income tax return was not timely filed, including extensions.
   b.  “Unclaimed tax credit” means, with respect to a tax year, the aggregate amount by which the Iowa taxpayers trust fund tax credits that were eligible to be claimed by eligible individuals, if any, exceeds the Iowa taxpayers trust fund tax credits actually claimed by eligible individuals, if any.
   2.  The taxes imposed under this division, less the credits allowed under this division except the credits for withheld tax and estimated tax paid in section 422.16, shall be reduced by an Iowa taxpayers trust fund tax credit to an eligible individual for the tax year beginning January 1 immediately preceding July 1 of any fiscal year during which a transfer, if any, is made from the taxpayers trust fund in section 8.57E to the Iowa taxpayers trust fund tax credit fund created in this section. 
   3.  The credit shall be equal to the quotient of the amount transferred to the Iowa taxpayers trust fund tax credit fund in the applicable fiscal year, divided by the number of eligible individuals for the tax year immediately preceding the tax year for which the credit in this section is allowed, as determined by the director of revenue in accordance with this section, rounded down to the nearest whole dollar. The department of revenue shall draft the income tax form for any tax year in which a credit will be allowed under this section to provide the information and space necessary for eligible individuals to claim the credit. 
   4.  Any credit in excess of the taxpayer’s liability for the tax year is not refundable and shall not be credited to the tax liability for any following year or carried back to a tax year prior to the tax year in which the taxpayer claims the credit.
   5.
  a.  There is established within the state treasury under the control of the department an Iowa taxpayers trust fund tax credit fund consisting of any moneys transferred by the general assembly by law from the taxpayers trust fund created in section 8.57E for purposes of the credit provided in this section. For the fiscal year beginning July 1, 2013, and for each fiscal year thereafter, the department shall transfer from the Iowa taxpayers trust fund tax credit fund to the general fund of the state, the lesser of the balance of the Iowa taxpayers trust fund tax credit fund or an amount of money equal to the Iowa taxpayers trust fund tax credits claimed in that fiscal year, if any. Any moneys in the Iowa taxpayers trust fund tax credit fund which represent unclaimed tax credits shall immediately revert to the taxpayers trust fund created in section 8.57E. Interest or earnings on moneys in the Iowa taxpayers trust fund tax credit fund shall be credited to the taxpayers trust fund created in section 8.57E.
   b.  The moneys transferred to the general fund of the state in accordance with this subsection shall not be considered new revenues for purposes of the state general fund expenditure limitation under section 8.54 but instead as replacement of a like amount included in the expenditure limitation for the fiscal year in which the transfer is made.
   Sec. 10.  Section 422D.2, Code 2013, is amended to read as follows:
   422D.2  Local income surtax.
   A county may impose by ordinance a local income surtax as provided in section 422D.1 at the rate set by the board of supervisors, of up to one percent, on the state individual income tax of each individual residing in the county at the end of the individual’s applicable tax year. However, the cumulative total of the percents of income surtax imposed on any taxpayer in the county shall not exceed twenty percent. The reason for imposing the surtax and the amount needed shall be set out in the ordinance. The surtax rate shall be set to raise only the amount needed. For purposes of this section, “state individual income tax” means the tax computed under section 422.5, less the amounts of nonrefundable credits allowed under chapter 422, division II, except for the Iowa taxpayers trust fund tax credit allowed under section 422.11E.
   Sec. 11.  EFFECTIVE UPON ENACTMENT.  This division of this Act, being deemed of immediate importance, takes effect upon enactment.
   Sec. 12.  RETROACTIVE APPLICABILITY.  This division of this Act applies retroactively to January 1, 2013, for tax years beginning on or after that date.>
   2.  Title page, by striking lines 1 through 5 and inserting <An Act relating to the taxpayers trust fund by modifying the transfer of moneys from the Iowa economic emergency fund to the taxpayers trust fund, allowing transfers from the taxpayers trust fund, creating an Iowa taxpayers trust fund tax credit and fund and providing for the transfer of moneys from the taxpayers trust fund for purposes of the credit, and including effective date and retroactive>
   3.  By renumbering as necessary.

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RANDY FEENSTRA

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BILL ANDERSON

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JONI ERNST

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MARK CHELGREN

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RICK BERTRAND

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BILL DIX

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CHARLES SCHNEIDER

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MICHAEL BREITBACH

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DENNIS GUTH

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JERRY BEHN

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DAN ZUMBACH

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SANDRA H. GREINER

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MARK SEGEBART

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DAVID JOHNSON

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HUBERT HOUSER

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TIM KAPUCIAN

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ROBY SMITH

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NANCY J. BOETTGER

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JACK WHITVER

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BRAD ZAUN

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 JAKE CHAPMAN

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 KEN ROZENBOOM

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 AMY SINCLAIR