House File 117HOUSE FILE BY STRUYK and HUSER Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act providing for the deposit of certain insurance premium tax 2 receipts to the fire and police retirement fund of the 3 statewide fire and police retirement system. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 1580YH 82 6 ec/je/5 PAG LIN 1 1 Section 1. NEW SECTION. 411.19 PREMIUM TAX RECEIPTS == 1 2 APPROPRIATION. 1 3 For the fiscal year beginning July 1, 2007, and for each 1 4 fiscal year thereafter, not more than the amount of premium 1 5 tax receipts collected pursuant to section 432.1, subsection 1 6 2, in the fiscal year beginning July 1, 2006, shall be 1 7 deposited in the general fund of the state. The total premium 1 8 tax receipt moneys in excess of the moneys deposited in the 1 9 general fund of the state in a fiscal year shall be deposited 1 10 in the fire and police retirement fund established in section 1 11 411.8. 1 12 EXPLANATION 1 13 This bill provides that, beginning with the fiscal year 1 14 beginning July 1, 2007, moneys collected from premium tax 1 15 receipts on insurance policies, other than life insurance 1 16 policies, in excess of the revenues collected for that tax in 1 17 the fiscal year beginning July 1, 2006, shall not be deposited 1 18 in the general fund of the state but will be deposited in the 1 19 state fire and retirement fund established in Code section 1 20 411.8. 1 21 LSB 1580YH 82 1 22 ec:nh/je/5