House File 282 - Introduced



                                       HOUSE FILE       
                                       BY  FORD


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

                                      A BILL FOR

  1 An Act relating to funding for the shelter assistance fund.
  2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  3 TLSB 1996HH 82
  4 tm/es/88

PAG LIN



  1  1    Section 1.  Section 428A.8, unnumbered paragraph 1, Code
  1  2 2007, is amended to read as follows:
  1  3    On or before the tenth day of each month the county
  1  4 recorder shall determine and pay to the treasurer of state
  1  5 eighty=two and three=fourths percent of the receipts from the
  1  6 real estate transfer tax collected during the preceding month
  1  7 and the treasurer of state shall deposit ninety=five ninety
  1  8 percent of the receipts in the general fund of the state and
  1  9 transfer five ten percent of the receipts to the shelter
  1 10 assistance fund created in section 15.349.
  1 11                           EXPLANATION
  1 12    This bill relates to funding for the shelter assistance
  1 13 fund.
  1 14    Currently, when there is consideration and the actual
  1 15 market value of the real property transferred is in excess of
  1 16 $500, the real estate transfer tax is 80 cents for each $500
  1 17 or fractional part of $500 in excess of $500.  On or before
  1 18 the 10th day of each month, the county recorder determines and
  1 19 pays to the treasurer of state 82.75 percent of the receipts
  1 20 from the real estate transfer tax collected during the
  1 21 preceding month and the treasurer of state deposits 95 percent
  1 22 of the receipts in the general fund of the state and transfers
  1 23 5 percent of the receipts to the shelter assistance fund.
  1 24    The bill increases the percentage of receipts paid to the
  1 25 treasurer of state that are transferred to the shelter
  1 26 assistance fund from 5 to 10 percent.  The bill decreases the
  1 27 percentage of receipts deposited in the general fund of the
  1 28 state from 95 percent to 90 percent.
  1 29 LSB 1996HH 82
  1 30 tm:nh/es/88