House File 2481 H-8373 Amend House File 2481 as follows: 1 1. Page 1, before line 1 by inserting: 2 < Section 1. Section 257.2, subsection 8, Code 2018, is 3 amended by adding the following new paragraph: 4 NEW PARAGRAPH . e. Foundation base supplement payments 5 received under section 257.16C. 6 Sec. ___. Section 257.4, subsection 1, paragraph a, Code 7 2018, is amended by adding the following new subparagraph: 8 NEW SUBPARAGRAPH . (10) The amount of the foundation base 9 supplement payment to be received by the school district under 10 section 257.16C. 11 Sec. ___. Section 257.4, subsection 1, paragraph b, Code 12 2018, is amended to read as follows: 13 b. For the budget year beginning July 1, 2008, and 14 succeeding budget years, the department of management shall 15 annually determine an adjusted additional property tax levy 16 and a statewide maximum adjusted additional property tax 17 levy rate, not to exceed the statewide average additional 18 property tax levy rate, calculated by dividing the total 19 adjusted additional property tax levy dollars statewide by the 20 statewide total net taxable valuation. For purposes of this 21 paragraph, the adjusted additional property tax levy shall be 22 that portion of the additional property tax levy corresponding 23 to the state cost per pupil multiplied by a school district’s 24 weighted enrollment, and then multiplied by one hundred 25 percent less the regular program foundation base per pupil 26 percentage pursuant to section 257.1 , and then reduced by the 27 amount of the property tax replacement payment to be received 28 under section 257.16B and the amount of the foundation base 29 supplement payment to be received under section 257.16C . The 30 district shall receive adjusted additional property tax levy 31 aid in an amount equal to the difference between the adjusted 32 additional property tax levy rate and the statewide maximum 33 adjusted additional property tax levy rate, as applied per 34 thousand dollars of assessed valuation on all taxable property 35 -1- HF2481.5204 (1) 87 md/jh 1/ 3 #1.

in the district. The statewide maximum adjusted additional 1 property tax levy rate shall be annually determined by the 2 department taking into account amounts allocated pursuant to 3 section 257.15, subsection 4 , and the balance of the property 4 tax equity and relief fund created in section 257.16A at the 5 end of the calendar year. > 6 2. Page 1, by striking lines 14 through 33 and inserting: 7 < Sec. ___. NEW SECTION . 257.16C Foundation base supplement 8 fund. 9 1. A foundation base supplement fund is created as a 10 separate and distinct fund in the state treasury under the 11 control of the department of management. Moneys in the fund 12 include revenues credited to the fund, appropriations made to 13 the fund, and other moneys deposited into the fund. 14 2. a. There is appropriated annually from the fund to 15 the department of management an amount necessary to make all 16 foundation base supplement payments under this section. The 17 department of management shall calculate each school district’s 18 foundation base supplement payment based on the distribution 19 methodology under paragraph “b” . 20 b. The moneys available in a fiscal year in the foundation 21 base supplement fund shall be distributed by the department 22 of revenue to each school district on a per pupil basis 23 calculated using each school district’s weighted enrollment, 24 as defined in section 257.6, for that fiscal year. However, 25 the amount of a school district’s foundation base supplement 26 payment for a budget year shall not exceed an amount equal to 27 the school district’s weighted enrollment for the budget year 28 multiplied by the amount for the budget year calculated under 29 section 257.16B, subsection 2, paragraph “f” , subparagraph 30 (2), as enacted in 2018 Iowa Acts, House File 2230, §4, minus 31 the amount of the school district’s property tax replacement 32 payment under section 257.16B for the budget year. 33 3. Notwithstanding section 8.33, any moneys remaining in 34 the foundation base supplement fund at the end of a fiscal year 35 -2- HF2481.5204 (1) 87 md/jh 2/ 3 #2.

shall not revert to any other fund but shall remain in the 1 foundation base supplement fund for use as provided in this 2 section for the following fiscal year. > 3 3. Page 2, line 3, after < department > by inserting < of 4 education > 5 4. Page 2, line 5, after < department > by inserting < of 6 education > 7 5. Page 2, line 9, after < department > by inserting < of 8 education > 9 6. Page 2, line 18, after < department > by inserting < of 10 education > 11 7. Page 2, line 26, after < department > by inserting < of 12 education > 13 8. Page 4, line 2, by striking < percentage > and inserting 14 < supplement > 15 9. Page 5, line 20, by striking < percentage > and inserting 16 < supplement > 17 10. Title page, by striking lines 6 and 7 and inserting < to 18 the calculation of the additional property tax levy, and making 19 appropriations. > 20 11. By renumbering as necessary. 21 ______________________________ DOLECHECK of Ringgold -3- HF2481.5204 (1) 87 md/jh 3/ 3 #3. #4. #5. #6. #7. #8. #9. #10. #11.