Bill Text: IA SF18 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act increasing the maximum balance authorized for the Iowa economic emergency fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-12-31 - END OF 2011 ACTIONS [SF18 Detail]
Download: Iowa-2011-SF18-Introduced.html
Senate
File
18
-
Introduced
SENATE
FILE
18
BY
HOGG
A
BILL
FOR
An
Act
increasing
the
maximum
balance
authorized
for
the
Iowa
1
economic
emergency
fund.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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18
Section
1.
Section
8.55,
subsection
2,
paragraph
a,
Code
1
2011,
is
amended
to
read
as
follows:
2
a.
The
maximum
balance
of
the
fund
is
the
amount
equal
to
3
two
seven
and
one-half
percent
of
the
adjusted
revenue
estimate
4
for
the
fiscal
year.
If
the
amount
of
moneys
in
the
Iowa
5
economic
emergency
fund
is
equal
to
the
maximum
balance,
moneys
6
in
excess
of
this
amount
shall
be
transferred
to
the
general
7
fund.
8
EXPLANATION
9
This
bill
increases
the
maximum
balance
authorized
for
the
10
Iowa
economic
emergency
fund
in
Code
section
8.55
from
2.5
11
percent
to
7.5
percent
of
the
adjusted
revenue
estimate
for
the
12
fiscal
year.
13
The
term,
“adjusted
revenue
estimate”
is
defined
in
Code
14
section
8.54
to
mean
the
appropriate
revenue
estimate
for
the
15
general
fund
for
the
following
fiscal
year
as
determined
by
16
the
revenue
estimating
conference,
adjusted
by
subtracting
17
estimated
tax
refunds
payable
from
that
estimated
revenue
and
18
as
determined
by
the
conference,
adding
any
new
revenues
which
19
may
be
considered
to
be
eligible
for
deposit
in
the
general
20
fund.
21
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