HF 2040 (LSB 5541YH (5) 83)

HOUSE FILE 2040

BY  STECKMAN

A BILL FOR

An Act relating to the use of certain regular physical plant and equipment levy funds and including effective date provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  USE OF PHYSICAL PLANT AND EQUIPMENT LEVY FUNDS.  Notwithstanding section 298.3 or any other provision to the contrary, for the fiscal period beginning July 1, 2010, and ending June 30, 2012, regular physical plant and equipment levy funds collected during that fiscal period, and the portion of any unspent balance in the physical plant and equipment levy fund created in section 298A.4 that is attributable to the regular physical plant and equipment levy, may be used by school districts for any school district general fund purpose to the extent the funds are not obligated to pay bonded indebtedness.
    Sec. 2.  EFFECTIVE UPON ENACTMENT.  This Act, being deemed of immediate importance, takes effect upon enactment.
EXPLANATION
   This bill allows school districts to use regular physical plant and equipment levy (PPEL) funds and unspent regular physical plant and equipment levy funds in the PPEL fund created pursuant to Code section 298A.4 for any school district general fund purpose, to the extent the PPEL funds are not already obligated to pay debt, for the fiscal period beginning July 1, 2010, and ending June 30, 2012. The regular PPEL is 33 1/3 cents per $1,000 of property value and does not require voter approval, pursuant to Code section 298.3. The bill takes effect upon enactment.