H.F. _____ Section 1. Section 257.15, subsection 4, paragraph a, 1 subparagraph (1), Code 2015, is amended by striking the 2 subparagraph and inserting in lieu thereof the following: 3 (1) For the budget year beginning July 1, 2015, and each 4 budget year thereafter, from the amount appropriated from 5 the general fund of the state pursuant to section 257.16, 6 subsection 1, the amount necessary to lower all school district 7 adjusted additional property tax levy rates to the statewide 8 maximum adjusted additional property tax levy rate pursuant to 9 section 257.4, subsection 1, paragraph “b” , after taking into 10 account amounts under subparagraph (2) of this paragraph. 11 Sec. 2. Section 257.15, subsection 4, paragraph a, 12 subparagraph (2), Code 2015, is amended to read as follows: 13 (2) From the The amount appropriated from the property tax 14 equity and relief fund created in section 257.16A . 15 EXPLANATION 16 The inclusion of this explanation does not constitute agreement with 17 the explanation’s substance by the members of the general assembly. 18 Current Code section 257.15(4) includes a $24 million 19 annual appropriation that is combined with moneys deposited in 20 the property tax equity and relief fund to provide adjusted 21 additional property tax levy aid to school districts by 22 lowering school districts’ adjusted additional property 23 tax levy rates to the statewide maximum adjusted additional 24 property tax levy rate, as determined by the department of 25 management under current Code section 257.4. 26 This bill strikes the $24 million annual appropriation under 27 current law and for the budget year beginning July 1, 2015, and 28 each budget year thereafter, appropriates from the general fund 29 of the state an amount necessary to lower all school district 30 adjusted additional property tax levy rates to the statewide 31 maximum adjusted additional property tax levy rate. 32 -1- LSB 2556YC (4) 86 md/sc 1/ 1