Bill Text: IA HF145 | 2015-2016 | 86th General Assembly | Introduced
Bill Title: A bill for an act providing for an annual transfer of revenue to the road use tax fund.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2015-02-03 - Introduced, referred to Transportation. H.J. 186. [HF145 Detail]
Download: Iowa-2015-HF145-Introduced.html
House File 145 - Introduced HOUSE FILE BY HEARTSILL A BILL FOR 1 An Act providing for an annual transfer of revenue to the road 2 use tax fund. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 1353YH (1) 86 ns/nh PAG LIN 1 1 Section 1. NEW SECTION. 312.12 Transfer from general fund. 1 2 There is transferred from the general fund of the state to 1 3 the road use tax fund for the fiscal year beginning July 1, 1 4 2015, and each fiscal year thereafter, an amount equal to two 1 5 percent of the adjusted revenue estimate, as defined in section 1 6 8.54, for the fiscal year in which the transfer is made. 1 7 Funds which are unencumbered and unobligated prior to being 1 8 transferred under this section are subject to modification 1 9 pursuant to section 8.31, subsection 5. 1 10 EXPLANATION 1 11 The inclusion of this explanation does not constitute agreement with 1 12 the explanation's substance by the members of the general assembly. 1 13 This bill provides for an annual transfer of funds from the 1 14 general fund of the state to the road use tax fund. The amount 1 15 to be transferred is 2 percent of the adjusted revenue estimate 1 16 for the fiscal year in which the transfer is made. The amount 1 17 is subject to across=the=board reductions, but only to the 1 18 extent such funds are unencumbered and unobligated at the time 1 19 the reductions are ordered by the governor. LSB 1353YH (1) 86 ns/nh
