Senate
File
194
-
Introduced
SENATE
FILE
194
BY
JOHNSON
A
BILL
FOR
An
Act
striking
certain
statutory
repeal
provisions
relating
1
to
the
state
sales
and
use
tax
and
the
secure
an
advanced
2
vision
for
education
fund.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
Section
423.2,
subsection
11,
paragraph
b,
1
subparagraph
(3),
Code
2015,
is
amended
to
read
as
follows:
2
(3)
Transfer
one-sixth
of
the
remaining
revenues
to
the
3
secure
an
advanced
vision
for
education
fund
created
in
section
4
423F.2
.
This
subparagraph
(3)
is
repealed
December
31,
2029.
5
Sec.
2.
Section
423.2,
subsection
13,
Code
2015,
is
amended
6
by
striking
the
subsection.
7
Sec.
3.
Section
423.5,
subsection
5,
Code
2015,
is
amended
8
by
striking
the
subsection.
9
Sec.
4.
Section
423.43,
subsection
1,
paragraph
b,
Code
10
2015,
is
amended
to
read
as
follows:
11
b.
Subsequent
to
the
deposit
into
the
general
fund
of
12
the
state
and
after
the
transfer
of
such
revenues
collected
13
under
chapter
423B
,
the
department
shall
transfer
one-sixth
of
14
such
remaining
revenues
to
the
secure
an
advanced
vision
for
15
education
fund
created
in
section
423F.2
.
This
paragraph
is
16
repealed
December
31,
2029.
17
Sec.
5.
REPEAL.
Section
423F.6,
Code
2015,
is
repealed.
18
EXPLANATION
19
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
20
the
explanation’s
substance
by
the
members
of
the
general
assembly.
21
Code
section
423.2
imposes
a
state
sales
tax
of
6
percent
22
upon
the
sales
price
of
all
sales
of
tangible
personal
23
property,
consisting
of
goods,
wares,
merchandise,
and
other
24
items
designated
by
statute,
sold
at
retail
in
the
state
to
25
consumers,
except
as
otherwise
provided
by
Code
chapter
423.
26
Generally,
by
operation
of
law,
a
sale
subject
to
the
sales
27
tax
is
also
subject
to
the
use
tax.
Following
the
transfer
28
of
amounts
required
by
statute,
one-sixth
of
the
remaining
29
state
sales
tax
revenue
from
the
6
percent
tax
is
transferred
30
to
the
secure
an
advanced
vision
for
education
(SAVE)
fund
31
created
in
Code
section
423F.2.
Moneys
in
the
SAVE
fund
are
32
allocated
to
school
districts
on
a
per
pupil
basis
to
be
33
used
for
infrastructure
and
property
tax
reduction
purposes
34
specified
in
Code
chapter
423F.
Under
current
law,
the
sales
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and
use
tax
rate
of
6
percent
is
reduced
to
5
percent
on
January
1
1,
2030,
and
Code
chapter
423F,
along
with
other
corresponding
2
provisions,
is
repealed
December
31,
2029.
3
This
bill
repeals
Code
section
423F.6,
which
currently
4
provides
for
the
repeal
of
Code
chapter
423F
on
December
31,
5
2029.
The
bill
also
strikes
corresponding
repeal
provisions
6
relating
to
the
allocation
of
sales
tax
revenue
and
provisions
7
that
reduce
the
state
sales
and
use
tax
rate
from
6
percent
to
5
8
percent
beginning
January
1,
2030.
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