Senate File 330 - Introduced SENATE FILE 330 BY BOWMAN A BILL FOR An Act establishing an annual appropriation to the property 1 tax equity and relief fund and including effective date and 2 applicability provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2502XS (4) 84 md/sc

S.F. 330 Section 1. Section 257.16A, Code 2011, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 1A. There is appropriated annually from the 3 general fund of the state to the fund an amount that is equal to 4 twenty-five million dollars minus the amount credited to the 5 fund under section 423F.2, subsection 3, for the same fiscal 6 year if such amount credited to the fund under section 423F.2, 7 subsection 3, for the same fiscal year is less than twenty-five 8 million dollars. 9 Sec. 2. EFFECTIVE UPON ENACTMENT AND APPLICABILITY. This 10 Act, being deemed of immediate importance, takes effect upon 11 enactment and applies to fiscal years beginning on or after 12 July 1, 2011. 13 EXPLANATION 14 This bill establishes an annual appropriation from the 15 general fund of the state to the property tax equity and relief 16 fund under Code section 257.16A. The amount of the annual 17 appropriation is an amount equal to $25 million minus the 18 amount credited to the property tax equity and relief fund 19 under Code section 423F.2(3) for the same fiscal year if such 20 amount credited is less than $25 million. 21 The bill takes effect upon enactment and applies to fiscal 22 years beginning on or after July 1, 2011. 23 -1- LSB 2502XS (4) 84 md/sc 1/ 1