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