SF 405 (LSB 2454SS (2) 85)

SENATE FILE 405

BY  SENG

A BILL FOR

An Act making a transfer of revenue to the road use tax fund and including effective date provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  TRANSFER TO ROAD USE TAX FUND.
   1.  There is transferred from the general fund of the state to the road use tax fund for the fiscal year beginning July 1, 2012, and ending June 30, 2013, the following amount, or so much thereof as is necessary, to be used for the purposes designated:
   For allocation or appropriation from the road use tax fund in accordance with law:
.................................................. $ 50,000,000
   2.  The transfer made in this section is for the purpose of reducing the need to increase taxes and fees on the citizens of this state in order to meet transportation needs. It is the intent of the general assembly to make transfers for the same purpose in future fiscal years when there are state fund balances available to do so.
    Sec. 2.  EFFECTIVE UPON ENACTMENT.  This Act, being deemed of immediate importance, takes effect upon enactment.
EXPLANATION
   This bill makes a transfer of revenue to the road use tax fund. The bill states that the transfer is for the purpose of reducing the need to increase taxes and fees on the citizens of this state in order to meet transportation needs.
   The moneys credited to the road use tax fund are subject to standing and other appropriations and are allocated by formula to the primary road fund, the secondary road fund of the counties, the farm-to-market road fund, and the street construction fund of the cities, and to related funds for expenditure.
   The bill takes effect upon enactment.