House File 141

                                       HOUSE FILE       
                                       BY  GIPP

                                       (COMPANION TO LSB 1008SS
                                        BY ZIEMAN)

    Passed House, Date               Passed Senate,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to the payment by a county of the agricultural
  2    land tax credit and reimbursement to the county of its payment
  3    and providing an effective date.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1008YH 80
  6 mg/cl/14

PAG LIN

  1  1    Section 1.  CREDIT RECERTIFICATION.  A county may on or
  1  2 after the effective date of this Act but before June 1, 2003,
  1  3 recertify to the department of revenue and finance the total
  1  4 amount of agricultural land tax credits payable during the
  1  5 fiscal year beginning July 1, 2002, if the amount originally
  1  6 certified was incorrect due to the fact that the amount
  1  7 certified included the amount of family farm tax credits due
  1  8 on land located in a particular school district and not the
  1  9 amount of agricultural land tax credits due on such land.  As
  1 10 soon as the department of revenue and finance receives the
  1 11 recertification and communicates its agreement to the validity
  1 12 of the recertification to the county auditor, the county shall
  1 13 pay from its general fund to those persons who qualified to
  1 14 receive but did not receive during the fiscal year beginning
  1 15 July 1, 2002, the pro rata percentage of the agricultural land
  1 16 tax credit as recertified on agricultural land located in the
  1 17 county, a sum equal to the amount of the pro rata percentage
  1 18 determined pursuant to section 426.7 of the credits correctly
  1 19 recertified as agreed to by the director of revenue and
  1 20 finance and the county auditor.
  1 21    Sec. 2.  Notwithstanding any provision in chapter 426 to
  1 22 the contrary, from the amount appropriated to the agricultural
  1 23 land credit fund created in section 426.1, to pay tax credits
  1 24 during the fiscal year beginning July 1, 2003, an amount not
  1 25 to exceed the amount agreed to by the director of revenue and
  1 26 finance and the county auditor for each county making payments
  1 27 under section 1 of this Act shall be paid to that county to be
  1 28 deposited into its general fund.  The amounts paid pursuant to
  1 29 this section shall be paid prior to any other payments from
  1 30 the agricultural land credit fund.  The remaining
  1 31 appropriation to the agricultural land credit fund shall be
  1 32 distributed as provided in chapter 426.
  1 33    Sec. 3.  EFFECTIVE DATE.  This Act, being deemed of
  1 34 immediate importance, takes effect upon enactment.
  1 35                           EXPLANATION
  2  1    As a result of an error in the certification of the total
  2  2 amount of agricultural land tax credits to be allowed on
  2  3 agricultural land in at least one county, the total amount of
  2  4 credits for that county payable during the 2002=2003 fiscal
  2  5 year was reduced.  This bill requires the county to pay the
  2  6 amount of the reduction to those qualifying for the
  2  7 agricultural land tax credit.  The county will subsequently be
  2  8 reimbursed for the moneys paid from the appropriation made to
  2  9 the agricultural land credit fund to pay credits during the
  2 10 2003=2004 fiscal year.
  2 11    The bill takes effect upon enactment.
  2 12 LSB 1008YH 80
  2 13 mg/cl/14