House File 381 - Introduced HOUSE FILE BY DE BOEF Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act providing for the inclusion of leasing a building as an 2 authorized use of physical plant and equipment levy revenue, 3 and including an applicability provision. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 2662YH 81 6 rn/sh/8 PAG LIN 1 1 Section 1. Section 298.3, subsection 10, Code 2005, is 1 2 amended to read as follows: 1 3 10. The purchase of buildings, lease of buildings, or 1 4 lease=purchase option agreements for school buildings. 1 5 Sec. 2. APPLICABILITY. This Act is applicable for 1 6 physical plant and equipment levies imposed either through 1 7 board authorization or voter approval on or after the 1 8 effective date of this Act or local option sales taxes for 1 9 school infrastructure purposes imposed on or after the 1 10 effective date of this Act. 1 11 EXPLANATION 1 12 This bill provides that the leasing of a building by a 1 13 school district shall be an authorized use of physical plant 1 14 and equipment levy revenue. The bill is applicable for 1 15 physical plant and equipment levies imposed on or after the 1 16 bill's effective date, and because Code section 423E.1 1 17 includes the purposes authorized for the physical plant and 1 18 equipment levy in the definition of "school infrastructure", 1 19 the bill is also applicable to the use of revenues from local 1 20 option sales taxes for school infrastructure purposes imposed 1 21 on or after the bill's effective date. 1 22 LSB 2662YH 81 1 23 rn:nh/sh/8