Senate File 253 - Introduced



                                       SENATE FILE       
                                       BY  WARNSTADT


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

                                      A BILL FOR

  1 An Act relating to the appropriation of the interest and earnings
  2    on sales and use tax revenues for state technology.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 2643XS 81
  5 mg/pj/5

PAG LIN



  1  1    Section 1.  Section 12C.7, Code 2005, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  3.  a.  Of the interest and earnings on
  1  4 investments and time deposits credited to the general fund of
  1  5 the state as provided in subsection 2, the treasurer of state
  1  6 shall estimate the amount that is attributable to the revenues
  1  7 deposited in the general fund of the state from the state
  1  8 sales and use taxes.  This estimated amount shall be credited
  1  9 to a special account in the state treasury.
  1 10    b.  There is appropriated from this special account to the
  1 11 department of revenue for each fiscal year the amount credited
  1 12 to the special account during the fiscal year to be used by
  1 13 the department for the purchase and modification of the
  1 14 department's computers and software for the purpose of
  1 15 improving the department's state and local option sales and
  1 16 use tax collection process.  Any moneys remaining unencumbered
  1 17 or unobligated in the special account at the close of a fiscal
  1 18 year shall be transferred to the general fund of the state.
  1 19                           EXPLANATION
  1 20    This bill provides that interest and earnings on sales and
  1 21 use tax revenues deposited into the state general fund shall
  1 22 be appropriated to the department of revenue to upgrade its
  1 23 computers and software used in the collection of state and
  1 24 local option sales and use taxes.
  1 25 LSB 2643XS 81
  1 26 mg:nh/pj/5.1