House File 813 - Introduced



                                       HOUSE FILE       
                                       BY  COMMITTEE ON ECONOMIC GROWTH

                                       (SUCCESSOR TO HF 282)


    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 1996HV 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 for the fiscal year beginning July 1, 2007, the treasurer
  1  8 of state shall deposit ninety=five ninety=three percent of the
  1  9 receipts in the general fund of the state and transfer five
  1 10 seven percent of the receipts to the shelter assistance fund
  1 11 created in section 15.349.  For the fiscal year beginning July
  1 12 1, 2008, the treasurer of state shall deposit ninety=one
  1 13 percent of the receipts in the general fund of the state and
  1 14 transfer nine percent of the receipts to the shelter
  1 15 assistance fund created in section 15.349.  For the fiscal
  1 16 year beginning July 1, 2009, and each fiscal year thereafter,
  1 17 the treasurer of state shall deposit ninety percent of the
  1 18 receipts in the general fund of the state and transfer ten
  1 19 percent of the receipts to the shelter assistance fund created
  1 20 in section 15.349.
  1 21                           EXPLANATION
  1 22    This bill relates to funding for the shelter assistance
  1 23 fund.
  1 24    Currently, when there is consideration and the actual
  1 25 market value of the real property transferred is in excess of
  1 26 $500, the real estate transfer tax is 80 cents for each $500
  1 27 or fractional part of $500 in excess of $500.  On or before
  1 28 the 10th day of each month, the county recorder determines and
  1 29 pays to the treasurer of state 82.75 percent of the receipts
  1 30 from the real estate transfer tax collected during the
  1 31 preceding month and the treasurer of state deposits 95 percent
  1 32 of the receipts in the general fund of the state and transfers
  1 33 5 percent of the receipts to the shelter assistance fund.
  1 34    The bill provides that, for fiscal year 2007=2008, the
  1 35 treasurer of state shall deposit 93 percent of the receipts in
  2  1 the general fund of the state and transfer 7 percent of the
  2  2 receipts to the shelter assistance fund.  For fiscal year
  2  3 2008=2009, 91 percent of the receipts shall be deposited in
  2  4 the general fund and 9 percent shall be transferred to the
  2  5 shelter assistance fund.  For fiscal year 2009=2010 and each
  2  6 fiscal year thereafter, 90 percent of the receipts shall be
  2  7 deposited in the general fund and 10 percent shall be
  2  8 transferred to the shelter assistance fund.
  2  9 LSB 1996HV 82
  2 10 tm:nh/es/88