Bill Text: IA HF195 | 2019-2020 | 88th General Assembly | Introduced
Bill Title: A bill for an act extending the period of time for collecting sales tax for deposit in the secure an advanced vision for education fund.
Spectrum: Partisan Bill (Democrat 20-0)
Status: (Introduced - Dead) 2019-02-05 - Subcommittee: Dolecheck, Meyer, A. and Steckman. H.J. 211. [HF195 Detail]
Download: Iowa-2019-HF195-Introduced.html
House
File
195
-
Introduced
HOUSE
FILE
195
BY
STECKMAN
,
HUNTER
,
OLDSON
,
DONAHUE
,
BRECKENRIDGE
,
OURTH
,
WOLFE
,
BEARINGER
,
WILLIAMS
,
R.
SMITH
,
ABDUL-SAMAD
,
KRESSIG
,
STAED
,
EHLERT
,
MASCHER
,
M.
SMITH
,
BROWN-POWERS
,
THEDE
,
KACENA
,
and
GASKILL
A
BILL
FOR
An
Act
extending
the
period
of
time
for
collecting
sales
tax
1
for
deposit
in
the
secure
an
advanced
vision
for
education
2
fund.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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195
Section
1.
Section
423.2,
subsection
12,
Code
2019,
is
1
amended
to
read
as
follows:
2
12.
The
sales
tax
rate
of
six
percent
is
reduced
to
five
3
percent
on
January
1,
2030
2050
.
4
Sec.
2.
Section
423.2A,
subsection
2,
paragraph
c,
Code
5
2019,
is
amended
to
read
as
follows:
6
c.
Transfer
one-sixth
of
the
remaining
revenues
to
the
7
secure
an
advanced
vision
for
education
fund
created
in
section
8
423F.2
.
This
paragraph
“c”
is
repealed
December
31,
2029
9
January
1,
2050
.
10
Sec.
3.
Section
423.5,
subsection
4,
Code
2019,
is
amended
11
to
read
as
follows:
12
4.
The
use
tax
rate
of
six
percent
is
reduced
to
five
13
percent
on
January
1,
2030
2050
.
14
Sec.
4.
Section
423.43,
subsection
1,
paragraph
b,
Code
15
2019,
is
amended
to
read
as
follows:
16
b.
Subsequent
to
the
deposit
into
the
general
fund
of
17
the
state
and
after
the
transfer
of
such
revenues
collected
18
under
chapter
423B
,
the
department
shall
transfer
one-sixth
of
19
such
remaining
revenues
to
the
secure
an
advanced
vision
for
20
education
fund
created
in
section
423F.2
.
This
paragraph
is
21
repealed
December
31,
2029
January
1,
2050
.
22
Sec.
5.
Section
423F.6,
Code
2019,
is
amended
to
read
as
23
follows:
24
423F.6
Repeal.
25
This
chapter
is
repealed
December
31,
2029
January
1,
2050
.
26
EXPLANATION
27
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
28
the
explanation’s
substance
by
the
members
of
the
general
assembly.
29
Code
section
423.2
imposes
a
state
tax
of
6
percent
upon
30
the
sales
price
of
all
sales
of
tangible
personal
property,
31
consisting
of
goods,
wares,
merchandise,
and
other
items
32
designated
by
statute,
sold
at
retail
in
the
state
to
consumers
33
or
users,
except
as
otherwise
provided
by
Code
chapter
423.
34
Generally,
by
operation
of
law,
a
sale
subject
to
the
sales
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tax
is
also
subject
to
the
use
tax.
Following
the
transfer
1
of
amounts
required
by
statute,
if
applicable,
one-sixth
of
2
the
remaining
state
sales
tax
revenue
from
the
6
percent
tax
3
is
transferred
to
the
secure
an
advanced
vision
for
education
4
(SAVE)
fund
created
in
Code
section
423F.2.
Moneys
in
the
SAVE
5
fund
are
allocated
to
school
districts
on
a
per
pupil
basis
to
6
be
used
for
infrastructure
and
property
tax
reduction
purposes
7
specified
in
Code
chapter
423F.
Under
current
law,
the
sales
8
tax
rate
of
6
percent
is
reduced
to
5
percent
on
January
1,
9
2030,
and
Code
chapter
423F,
along
with
other
corresponding
10
provisions,
is
repealed
December
31,
2029.
11
This
bill
extends
the
6
percent
sales
tax
rate,
the
12
allocation
to
the
SAVE
fund,
and
the
statutory
repeal
of
Code
13
chapter
423F
until
January
1,
2050.
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