Senate File 194

                                       SENATE FILE       
                                       BY  McCOY


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

                                      A BILL FOR

  1 An Act relating to payments from the personal property tax
  2    replacement fund to city=county consolidated governments,
  3    multicounty consolidated governments, and community
  4    commonwealths.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  6 TLSB 1352XS 80
  7 sc/pj/5

PAG LIN

  1  1    Section 1.  Section 405A.8, Code 2003, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  1A.  a.  Before the amount appropriated
  1  4 under this section is allocated pursuant to the provisions of
  1  5 this chapter, the amount computed in paragraph "b" shall be
  1  6 deducted from the appropriation and paid to a city=county
  1  7 consolidated government formed under sections 331.247 through
  1  8 331.252, a multicounty consolidated government formed under
  1  9 sections 331.253 through 331.256, or a community commonwealth
  1 10 formed under sections 331.260 through 331.263.
  1 11    b.  Each year for ten years following the formation of a
  1 12 city=county consolidated government, multicounty consolidated
  1 13 government, or a community commonwealth government, each such
  1 14 government shall be paid an amount equal to five dollars
  1 15 multiplied by the population of the consolidated government or
  1 16 commonwealth areas.  The amount due each city=county
  1 17 consolidated government, each multicounty consolidated
  1 18 government, or each community commonwealth for each fiscal
  1 19 year shall be paid in the form of a warrant payable to the
  1 20 treasurer of the respective consolidated or commonwealth
  1 21 governments by the department of revenue and finance according
  1 22 to the schedule in section 405A.9.
  1 23    c.  The payment made under this subsection is in addition
  1 24 to the personal property tax replacement allocation due the
  1 25 city=county consolidated government, multicounty consolidated
  1 26 government, or the community commonwealth.
  1 27    Sec. 2.  Section 427A.12, subsection 1, Code 2003, is
  1 28 amended to read as follows:
  1 29    1.  A personal property tax replacement fund is established
  1 30 as a permanent fund in the office of the treasurer of state,
  1 31 for the purpose of reimbursing the taxing districts for their
  1 32 loss of revenue from personal property taxes due to the
  1 33 provisions of this chapter, determined as provided in this
  1 34 section, and for making payments to city=county consolidated
  1 35 governments, multicounty consolidated governments, and
  2  1 community commonwealths pursuant to section 405A.8.
  2  2                           EXPLANATION
  2  3    This bill provides that before the state appropriation to
  2  4 the personal property tax replacement fund is allocated among
  2  5 local governments, an amount shall be paid to city=county
  2  6 consolidated governments, multicounty consolidated
  2  7 governments, and community commonwealths in addition to the
  2  8 amount they are allocated under the personal property tax
  2  9 replacement formula.  The amount to be paid to a city=county
  2 10 consolidated government, a multicounty consolidated
  2 11 government, or a community commonwealth is equal to $5 per
  2 12 capita.  The payments are to be paid for 10 years following
  2 13 formation of the city=county consolidated government,
  2 14 multicounty consolidated government, or the community
  2 15 commonwealth.
  2 16 LSB 1352XS 80
  2 17 sc/pj/5