House File 108 



                                       HOUSE 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