House
Study
Bill
501
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
APPROPRIATIONS
BILL
BY
CHAIRPERSON
MOHR)
A
BILL
FOR
An
Act
relating
to
the
duties
of
the
revenue
estimating
1
conference.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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5172YC
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H.F.
_____
Section
1.
Section
8.22A,
subsection
2,
Code
2022,
is
1
amended
to
read
as
follows:
2
2.
The
conference
shall
meet
as
often
as
deemed
necessary,
3
but
shall
meet
at
least
three
times
per
year
with
at
least
4
one
meeting
taking
place
each
year
in
March.
The
conference
5
may
use
sources
of
information
deemed
appropriate.
At
6
each
meeting,
the
conference
shall
agree
to
estimates
for
7
the
current
fiscal
year
and
the
following
fiscal
year
for
8
the
general
fund
of
the
state,
for
lottery
revenues
to
be
9
available
for
disbursement,
and
from
for
gambling
revenues
10
and
from
for
interest
earned
on
the
cash
reserve
fund
and
11
the
economic
emergency
fund
to
be
deposited
in
the
rebuild
12
Iowa
infrastructure
fund
,
and
for
revenues
to
be
deposited
13
in
the
sports
wagering
receipts
fund
.
At
the
meeting
taking
14
place
each
year
in
March,
in
addition
to
agreeing
to
estimates
15
for
the
current
fiscal
year
and
the
following
fiscal
year,
16
the
conference
shall
agree
to
estimates
for
the
fiscal
year
17
beginning
July
1
of
the
following
calendar
year.
Only
an
18
estimate
for
the
following
fiscal
year
agreed
to
by
the
19
conference
pursuant
to
subsection
3,
4,
or
5
,
shall
be
used
20
for
purposes
of
calculating
the
state
general
fund
expenditure
21
limitation
under
section
8.54
,
and
any
other
estimate
agreed
22
to
shall
be
considered
a
preliminary
estimate
that
shall
not
23
be
used
for
purposes
of
calculating
the
state
general
fund
24
expenditure
limitation.
25
Sec.
2.
Section
8.22A,
subsection
5,
Code
2022,
is
amended
26
by
adding
the
following
new
paragraph:
27
NEW
PARAGRAPH
.
e.
The
amount
of
revenue
for
the
following
28
fiscal
year
to
be
deposited
in
the
sports
wagering
receipts
29
fund
created
in
section
8.57,
subsection
6.
30
EXPLANATION
31
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
32
the
explanation’s
substance
by
the
members
of
the
general
assembly.
33
This
bill
requires
the
revenue
estimating
conference
(REC)
34
to
estimate
revenues
to
be
deposited
in
the
sports
wagering
35
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H.F.
_____
receipts
fund,
in
addition
to
the
REC’s
current
duties.
Under
1
current
law,
the
sports
wagering
receipts
fund
receives
2
revenues
from
the
internet
fantasy
sports
contest
tax
(Code
3
section
99E.6)
and
the
sports
wagering
tax
(Code
section
4
99F.11(5)).
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