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