HF 2086 (LSB 5334HH (2) 83)

HOUSE FILE 2086

BY  MASCHER

A BILL FOR

An Act providing for and making an appropriation to the department of revenue for the elderly and disabled tax credit and reimbursement and providing an effective date.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  ELDERLY AND DISABLED TAX CREDIT AND REIMBURSEMENT —— APPROPRIATION.
   1.  Notwithstanding the amount appropriated by section 425.39, there is appropriated from the general fund of the state to the department of revenue for the fiscal year beginning July 1, 2010, and ending June 30, 2011, the following amount to be used for the purpose designated:
   For implementing the elderly and disabled tax credit and reimbursement pursuant to sections 425.16 through 425.39:
.................................................. $ 30,000,000

   2.  If the director of revenue determines that the amount of claims for credit for property taxes due pursuant to subsection 1, plus the amount of claims for reimbursement for rent constituting property taxes paid which are to be paid during the fiscal year may exceed the total amount appropriated, the director shall estimate the percentage of the credits and reimbursements which will be funded by the appropriation. The county treasurer shall notify the director of the amount of property tax credits claimed by June 8, 2010. The director shall estimate the percentage of the property tax credits and rent reimbursement claims that will be funded by the appropriation and notify the county treasurer of the percentage estimate by June 15, 2010. The estimated percentage shall be used in computing for each claim the amount of property tax credit and reimbursement for rent constituting property taxes paid for that fiscal year. If the director overestimates the percentage of funding, claims for reimbursement for rent constituting property taxes paid shall be paid until they can no longer be paid at the estimated percentage of funding. Rent reimbursement claims filed after that point in time shall receive priority and shall be paid in the following fiscal year.
    Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of immediate importance, takes effect upon enactment.
EXPLANATION
   This bill appropriates $30 million from the general fund of the state to the department of revenue for the fiscal year beginning July 1, 2010, and ending June 30, 2011, for implementing the elderly and disabled tax credit and reimbursement pursuant to Code sections 425.16 through 425.39. 
   The bill also provides the procedure to be used by the director of revenue if the amount of claims for credit for property taxes and reimbursement for rent constituting property taxes paid exceed the total amount appropriated.
   The bill takes effect upon enactment.