House File 3

                                       HOUSE FILE       
                                       BY  BOAL and ROBERTS


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

                                      A BILL FOR

  1 An Act relating to the monetary value of equipment purchased
  2    through a lease=purchase option agreement for which physical
  3    plant and equipment levy revenue may be expended.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1036HH 80
  6 rn/sh/8

PAG LIN

  1  1    Section 1.  Section 298.3, subsection 10, Code 2003, is
  1  2 amended to read as follows:
  1  3    10.  Lease=purchase option agreements for school buildings
  1  4 and for equipment exceeding in value five thousand hundred
  1  5 dollars per single unit.
  1  6                           EXPLANATION
  1  7    This bill reduces, from $5,000 to $500, the monetary value
  1  8 of a single unit of equipment, subject to a lease=purchase
  1  9 option agreement, that can be funded through an allocation of
  1 10 physical plant and equipment levy revenue pursuant to Code
  1 11 section 298.3, subsection 10.
  1 12 LSB 1036HH 80
  1 13 rn/sh/8
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