House
File
2030
-
Introduced
HOUSE
FILE
2030
BY
STAED
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
2018,
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repealed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
14,
Code
2018,
is
amended
6
by
striking
the
subsection.
7
Sec.
3.
Section
423.5,
subsection
5,
Code
2018,
is
amended
8
by
striking
the
subsection.
9
Sec.
4.
Section
423.43,
subsection
1,
paragraph
b,
Code
10
2018,
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repealed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.
Section
423F.4,
Code
2018,
is
amended
to
read
as
18
follows:
19
423F.4
Borrowing
authority
for
school
districts.
20
A
school
district
may
anticipate
its
share
of
the
revenues
21
under
section
423F.2
by
issuing
bonds
in
the
manner
provided
in
22
section
423E.5
,
Code
2018
.
However,
to
the
extent
any
school
23
district
has
issued
bonds
anticipating
the
proceeds
of
an
24
extended
local
sales
and
services
tax
for
school
infrastructure
25
purposes
imposed
by
a
county
pursuant
to
former
chapter
423E,
26
Code
and
Code
Supplement
2007,
prior
to
July
1,
2008,
the
27
pledge
of
such
revenues
for
the
payment
of
principal
and
28
interest
on
such
bonds
shall
be
replaced
by
a
pledge
of
its
29
share
of
the
revenues
under
section
423F.2
.
30
Sec.
6.
REPEAL.
Section
423F.6,
Code
2018,
is
repealed.
31
EXPLANATION
32
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
33
the
explanation’s
substance
by
the
members
of
the
general
assembly.
34
Code
section
423.2
imposes
a
state
sales
tax
of
6
percent
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upon
the
sales
price
of
all
sales
of
tangible
personal
1
property,
consisting
of
goods,
wares,
merchandise,
and
other
2
items
designated
by
statute,
sold
at
retail
in
the
state
to
3
consumers,
except
as
otherwise
provided
by
Code
chapter
423.
4
Generally,
by
operation
of
law,
a
sale
subject
to
the
sales
5
tax
is
also
subject
to
the
use
tax.
Following
the
transfer
6
of
amounts
required
by
statute,
if
applicable,
one-sixth
of
7
the
remaining
state
sales
tax
revenue
from
the
6
percent
tax
8
is
transferred
to
the
secure
an
advanced
vision
for
education
9
(SAVE)
fund
created
in
Code
section
423F.2.
Moneys
in
the
SAVE
10
fund
are
allocated
to
school
districts
on
a
per
pupil
basis
to
11
be
used
for
infrastructure
and
property
tax
reduction
purposes
12
specified
in
Code
chapter
423F.
Under
current
law,
the
sales
13
and
use
tax
rate
of
6
percent
is
reduced
to
5
percent
on
January
14
1,
2030,
and
Code
chapter
423F,
along
with
other
corresponding
15
provisions,
is
repealed
December
31,
2029.
16
This
bill
repeals
Code
section
423F.6,
which
currently
17
provides
for
the
repeal
of
Code
chapter
423F
on
December
31,
18
2029.
The
bill
also
strikes
corresponding
repeal
provisions
19
relating
to
the
allocation
of
sales
tax
revenue
and
provisions
20
that
reduce
the
state
sales
and
use
tax
rate
from
6
percent
to
5
21
percent
beginning
January
1,
2030.
22
The
bill
also
specifies
a
Code
year
for
a
statutory
reference
23
in
current
law
relating
to
the
manner
in
which
school
districts
24
issued
bonds
payable
from
revenues
received
from
the
SAVE
fund.
25
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