H-8300

   Amend  the amendment, H-8290, to House File 2642 as follows:
   1.  Page 1, after line 28 by inserting: 
   <___.  Page 14, after line 27 by inserting: 
<DIVISION ___
REBUILD IOWA INFRASTRUCTURE FUND APPROPRIATION

   Sec. ___.  IOWA ECONOMIC EMERGENCY FUND TRANSFERS.  

Notwithstanding any provision of section 8.55 to the contrary and for purposes of transfers from the Iowa economic emergency fund created in section 8.55 as provided in this section during the fiscal year beginning July 1, 2020, the maximum balance of the Iowa economic emergency fund is the amount equal to two and one-half percent of the adjusted revenue estimate for the fiscal year beginning July 1, 2020. 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 during the fiscal year beginning July 1, 2020:
   1.  The first seventy million dollars shall be transferred to the general fund of the state.
   2.  Of the excess remaining after the transfer in subsection 1, the difference, reduced by the transfer made in subsection 1, between the actual net revenue for the general fund of the state for the fiscal year beginning July 1, 2019, and ending June 30, 2020, and the adjusted revenue estimate for the fiscal year beginning July 1, 2019, and ending June 30, 2020, shall be transferred to the taxpayer relief fund created in section 8.57E.
   3.  The remainder of the excess, if any, shall be transferred to the general fund of the state.
   Sec. ___.  REBUILD IOWA INFRASTRUCTURE FUND —— GENERAL FUND APPROPRIATION.  There is appropriated from the general fund of the state for the fiscal year beginning July 1, 2019, and ending June 30, 2020, to the rebuild Iowa infrastructure fund created in section 8.57, the sum of seventy million dollars.
   Sec. ___.  EFFECTIVE DATE.  This division of this Act, being deemed of immediate importance, takes effect upon enactment.
   Sec. ___.  RETROACTIVE APPLICABILITY.  This division of this Act applies retroactively to June 1, 2020.>>
   2.  By renumbering, redesignating, and correcting internal references as necessary.

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BOSSMAN of Woodbury