Senate Joint Resolution 1 - Introduced SENATE JOINT RESOLUTION BY DEARDEN (COMPANION TO LSB 1196HH BY BELL) Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved SENATE JOINT RESOLUTION 1 A Joint Resolution proposing an amendment to the Constitution of 2 the State of Iowa to dedicate a portion of state revenue from 3 the tax imposed on certain retail sales of tangible personal 4 property and services for the benefit of the state's natural 5 resources. 6 BE IT RESOLVED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 7 TLSB 1196SS 83 8 da/rj/5 PAG LIN 1 1 Section 1. The following amendment to the Constitution of 1 2 the State of Iowa is proposed: 1 3 Article VII of the Constitution of the State of Iowa is 1 4 amended by adding the following new section: 1 5 NATURAL RESOURCES. SEC. 10. A natural resources and 1 6 outdoor recreation trust fund is created within the treasury 1 7 for the purposes of protecting and enhancing water quality and 1 8 natural areas in this State including parks, trails, and fish 1 9 and wildlife habitat, and conserving agricultural soils in 1 10 this State. Moneys in the fund shall be exclusively 1 11 appropriated by law for these purposes. 1 12 The general assembly shall provide by law for the 1 13 implementation of this section, including by providing for the 1 14 administration of the fund and at least annual audits of the 1 15 fund. 1 16 Except as otherwise provided in this section, the fund 1 17 shall be annually credited with an amount equal to the amount 1 18 generated by a sales tax rate of three=eighths of one percent 1 19 as may be imposed upon the retail sales price of tangible 1 20 personal property and the furnishing of enumerated services 1 21 sold in this State. 1 22 No revenue shall be credited to the fund until the tax rate 1 23 for the sales tax imposed upon the retail sales price of 1 24 tangible personal property and the furnishing of enumerated 1 25 services sold in this State in effect on the effective date of 1 26 this section is increased. After such an increased tax rate 1 27 becomes effective, an amount equal to the amount generated by 1 28 the increase in the tax rate shall be annually credited to the 1 29 fund, not to exceed an amount equal to the amount generated by 1 30 a tax rate of three=eighths of one percent imposed upon the 1 31 retail sales price of tangible personal property and the 1 32 furnishing of enumerated services sold in this State. 1 33 Sec. 2. SUBMISSION FOR RATIFICATION. The foregoing 1 34 proposed amendment, having been adopted and agreed to by the 1 35 Eighty=second General Assembly, 2008 Session, thereafter duly 2 1 published, and now adopted and agreed to by the Eighty=third 2 2 General Assembly in this joint resolution, shall be submitted 2 3 to the people of the State of Iowa at the general election in 2 4 November of the year two thousand ten in the manner required 2 5 by the Constitution of the State of Iowa and the laws of the 2 6 State of Iowa. 2 7 EXPLANATION 2 8 This joint resolution proposes an amendment to the 2 9 Constitution of the State of Iowa to dedicate a portion of 2 10 state sales and service tax revenue for the benefit of water 2 11 quality, natural areas, and agricultural soils in this state. 2 12 The joint resolution establishes a natural resources and 2 13 outdoor recreation trust fund. The joint resolution credits 2 14 the fund with an amount equal to the amount generated by a 2 15 sales tax rate of three=eighths of 1 percent as may be imposed 2 16 upon the retail sales price of tangible personal property and 2 17 the furnishing of enumerated services sold in this state. 2 18 The joint resolution provides that no revenue is to be 2 19 credited to the fund until the tax rate in effect on the 2 20 effective date of the joint resolution is increased. After 2 21 the increased tax rate becomes effective, an amount equal to 2 22 the amount generated by the increase in the tax rate is 2 23 credited to the fund, not to exceed the amount generated by 2 24 the tax rate of three=eighths of 1 percent. 2 25 The proposed amendment to the Constitution of the State of 2 26 Iowa in this joint resolution was previously passed as Senate 2 27 Joint Resolution 2002 by the Eighty=second General Assembly, 2 28 2008 Session (2008 Iowa Acts, chapter 1194). If adopted and 2 29 agreed to by the Eighty=third General Assembly, the proposed 2 30 amendment will be submitted to the state electorate at the 2 31 general election held in November 2010, for ratification. 2 32 LSB 1196SS 83 2 33 da/rj/5