Bill Text: IA SF425 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act establishing an annual appropriation to the property tax equity and relief fund and including effective date and applicability provisions. (Formerly SF 330.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2011-12-31 - END OF 2011 ACTIONS [SF425 Detail]
Download: Iowa-2011-SF425-Introduced.html
Senate
File
425
-
Introduced
SENATE
FILE
425
BY
COMMITTEE
ON
EDUCATION
(SUCCESSOR
TO
SF
330)
A
BILL
FOR
An
Act
establishing
an
annual
appropriation
to
the
property
1
tax
equity
and
relief
fund
and
including
effective
date
and
2
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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S.F.
425
Section
1.
Section
257.16A,
Code
2011,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
1A.
There
is
appropriated
annually
from
the
3
general
fund
of
the
state
to
the
fund
an
amount
that
is
equal
to
4
twenty-five
million
dollars
minus
the
amount
credited
to
the
5
fund
under
section
423F.2,
subsection
3,
for
the
same
fiscal
6
year
if
such
amount
credited
to
the
fund
under
section
423F.2,
7
subsection
3,
for
the
same
fiscal
year
is
less
than
twenty-five
8
million
dollars.
9
Sec.
2.
EFFECTIVE
UPON
ENACTMENT
AND
APPLICABILITY.
This
10
Act,
being
deemed
of
immediate
importance,
takes
effect
upon
11
enactment
and
applies
to
fiscal
years
beginning
on
or
after
12
July
1,
2011.
13
EXPLANATION
14
This
bill
establishes
an
annual
appropriation
from
the
15
general
fund
of
the
state
to
the
property
tax
equity
and
relief
16
fund
under
Code
section
257.16A.
The
amount
of
the
annual
17
appropriation
is
an
amount
equal
to
$25
million
minus
the
18
amount
credited
to
the
property
tax
equity
and
relief
fund
19
under
Code
section
423F.2(3)
for
the
same
fiscal
year
if
such
20
amount
credited
is
less
than
$25
million.
21
The
bill
takes
effect
upon
enactment
and
applies
to
fiscal
22
years
beginning
on
or
after
July
1,
2011.
23
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