House File 2576 H-8139 Amend House File 2576 as follows: 1 1. Page 1, line 4, after < paid > by inserting < or had a 2 reduction in property taxes due > 3 2. Page 1, line 15, after < repayment > by inserting < or 4 reduction > 5 3. Page 2, after line 1 by inserting: 6 < Sec. ___. ADJUSTMENT TO STATE FOUNDATION AID FOR SCHOOL 7 BUDGET YEAR 2020-2021. 8 1. If a school district was required to repay property 9 taxes paid or had a reduction in property taxes due for school 10 taxes levied for the school budget year beginning July 1, 11 2019, on a property that received an assessed value reduction 12 for the assessment year beginning January 1, 2018, by action 13 of the board of review or property assessment appeal board, 14 or by judicial action, and the amount of the reduction for 15 the property exceeded forty-seven million dollars, the school 16 district is eligible for an adjustment in state foundation aid 17 for the budget year beginning July 1, 2020. 18 2. To receive the adjustment in state foundation aid, the 19 school district shall apply to the department of management 20 within thirty days following the effective date of this Act and 21 section 257.12, subsection 3, shall not apply. The department 22 of management shall determine the amount of adjustment in state 23 foundation aid pursuant to subsection 3. 24 3. The department of management shall determine the amount 25 of state foundation aid which the school district would 26 have received under section 257.1 for the school budget year 27 beginning July 1, 2019, in the manner provided in section 28 257.12, subsection 2. The adjustment in state foundation 29 aid under this section shall be paid as provided in section 30 257.16. > 31 4. Page 2, line 4, by striking < This > and inserting < Except 32 as otherwise provided in this Act, this > 33 5. By renumbering as necessary. 34 -1- HF2576.3712 (1) 88 md/jh 1/ 2 #1. #2. #3. #4.