House File 2039
HOUSE FILE
BY COMMITTEE ON APPROPRIATIONS
(SUCCESSOR TO HSB 501)
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the state general fund expenditure limitation
2 by revising the percentage amount used for the limitation and
3 including effective date and applicability provisions.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
5 TLSB 5441HV 80
6 jp/cf/24
PAG LIN
1 1 Section 1. Section 8.54, subsections 2 and 3, Code 2003,
1 2 are amended to read as follows:
1 3 2. There is created a state general fund expenditure
1 4 limitation for each fiscal year beginning on or after July 1,
1 5 1993, calculated as provided in this section.
1 6 3. Except as otherwise provided in this section, the state
1 7 general fund expenditure limitation for a fiscal year shall be
1 8 ninety=nine ninety=eight percent of the adjusted revenue
1 9 estimate.
1 10 Sec. 2. EFFECTIVE DATE == APPLICABILITY. Section 1 of
1 11 this Act, amending section 8.54, takes effect December 15,
1 12 2004, or the date the revenue estimating conference agrees to
1 13 the revenue estimate for the fiscal year beginning July 1,
1 14 2005, and ending June 30, 2006, that is required to be used by
1 15 the governor and the general assembly for preparation and
1 16 passage of the state budget for that fiscal year pursuant to
1 17 section 8.22A, subsections 3 and 4, whichever date is earlier.
1 18 Section 1 of this Act is first applicable to the expenditure
1 19 limitation calculated in accordance with section 8.54 for the
1 20 fiscal year beginning July 1, 2005, and ending June 30, 2006.
1 21 EXPLANATION
1 22 This bill relates to the state general fund expenditure
1 23 limitation by revising the percentage amount used for the
1 24 limitation.
1 25 Current law provides that the expenditure limitation
1 26 calculated for a fiscal year is 99 percent of the adjusted
1 27 revenue estimate agreed to by the revenue estimating
1 28 conference for that fiscal year at the meeting held by
1 29 December 15 prior to the commencement of the fiscal year. The
1 30 bill changes the percentage amount to 98 percent of the
1 31 adjusted revenue estimate.
1 32 The bill takes effect December 15, 2004, or the date the
1 33 revenue estimating conference agrees to a revenue estimate for
1 34 the fiscal year beginning July 1, 2005, that shall be used by
1 35 the governor and the general assembly for preparation and
2 1 passage of the state budget for that fiscal year pursuant to
2 2 Code section 8.22A, subsections 3 and 4, whichever date is
2 3 earlier. The bill is first applicable to the budget
2 4 activities of the governor and general assembly for fiscal
2 5 year 2005=2006.
2 6 LSB 5441HV 80
2 7 jp/cf/24