House File 108HOUSE FILE BY STRUYK, HUSER, MERTZ, and RAYHONS 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 in 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 1484YH 83 6 ec/nh/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, 2009, 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 3, in the fiscal year beginning July 1, 2008, shall be 1 7 deposited in the general fund of the state. The total premium 1 8 tax receipt moneys collected pursuant to section 432.1, 1 9 subsection 3, in excess of the moneys deposited in the general 1 10 fund of the state in a fiscal year as provided by this section 1 11 shall be deposited in the fire and police retirement fund 1 12 established in section 411.8. 1 13 EXPLANATION 1 14 This bill provides that, beginning with the fiscal year 1 15 beginning July 1, 2009, moneys collected from premium tax 1 16 receipts on insurance policies, other than life insurance 1 17 policies, in excess of the revenues collected for that tax in 1 18 the fiscal year beginning July 1, 2008, shall not be deposited 1 19 in the general fund of the state but will be deposited in the 1 20 state fire and retirement fund established in Code section 1 21 411.8. 1 22 LSB 1484YH 83 1 23 ec/nh/5