Bill Text: IA HF1 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to local government funding by modifying school district funding provisions, property assessment provisions, and bond issuance requirements, and including effective date and applicability provisions.(See HF 718.)
Spectrum: Partisan Bill (Republican 34-0)
Status: (Introduced - Dead) 2023-04-19 - Withdrawn. H.J. 886. [HF1 Detail]
Download: Iowa-2023-HF1-Introduced.html
House
File
1
-
Introduced
HOUSE
FILE
1
BY
GRASSLEY
,
HOLT
,
WHEELER
,
STONE
,
DUNWELL
,
GUSTOFF
,
MOORE
,
JENEARY
,
CARLSON
,
FISHER
,
COLLINS
,
VONDRAN
,
MEGGERS
,
BRADLEY
,
WULF
,
SHIPLEY
,
WILLS
,
P.
THOMPSON
,
JOHNSON
,
HARRIS
,
NORDMAN
,
SORENSEN
,
GEHLBACH
,
KAUFMANN
,
FRY
,
ANDREWS
,
YOUNG
,
HENDERSON
,
WOOD
,
HORA
,
GRABER
,
WINDSCHITL
,
BOSSMAN
,
and
GERHOLD
A
BILL
FOR
An
Act
relating
to
local
government
funding
by
modifying
school
1
district
funding
provisions,
property
assessment
provisions,
2
and
bond
issuance
requirements,
and
including
effective
date
3
and
applicability
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
TLSB
1284YH
(10)
90
md/jh
H.F.
1
DIVISION
I
1
SCHOOL
FOUNDATION
PROPERTY
TAX
2
Section
1.
Section
257.3,
subsection
1,
paragraph
a,
Code
3
2023,
is
amended
to
read
as
follows:
4
a.
Except
as
provided
in
subsections
2
and
3
,
a
school
5
district
shall
cause
to
be
levied
each
year,
for
the
school
6
general
fund,
a
foundation
property
tax
equal
to
five
four
7
dollars
and
forty
ninety
cents
per
thousand
dollars
of
assessed
8
valuation
on
all
taxable
property
in
the
district.
The
county
9
auditor
shall
spread
the
foundation
levy
over
all
taxable
10
property
in
the
district.
11
Sec.
2.
Section
257.3,
subsection
2,
paragraphs
a
and
b,
12
Code
2023,
are
amended
to
read
as
follows:
13
a.
Notwithstanding
subsection
1
,
a
reorganized
school
14
district
shall
cause
a
foundation
property
tax
of
four
three
15
dollars
and
forty
ninety
cents
per
thousand
dollars
of
assessed
16
valuation
to
be
levied
on
all
taxable
property
which,
in
the
17
year
preceding
a
reorganization,
was
within
a
school
district
18
affected
by
the
reorganization
as
defined
in
section
275.1
,
19
or
in
the
year
preceding
a
dissolution
was
a
part
of
a
school
20
district
that
dissolved
if
the
dissolution
proposal
has
21
been
approved
by
the
director
of
the
department
of
education
22
pursuant
to
section
275.55
.
23
b.
In
succeeding
school
years,
the
foundation
property
24
tax
levy
on
that
portion
shall
be
increased
to
the
rate
of
25
four
dollars
and
ninety
fifty
cents
per
thousand
dollars
of
26
assessed
valuation
the
first
succeeding
year,
five
four
dollars
27
and
fifteen
sixty-five
cents
per
thousand
dollars
of
assessed
28
valuation
the
second
succeeding
year,
and
five
four
dollars
and
29
forty
ninety
cents
per
thousand
dollars
of
assessed
valuation
30
the
third
succeeding
year
and
each
year
thereafter.
31
Sec.
3.
Section
425A.3,
subsection
1,
Code
2023,
is
amended
32
to
read
as
follows:
33
1.
The
family
farm
tax
credit
fund
shall
be
apportioned
34
each
year
in
the
manner
provided
in
this
chapter
so
as
to
give
35
-1-
LSB
1284YH
(10)
90
md/jh
1/
22
H.F.
1
a
credit
against
the
tax
on
each
eligible
tract
of
agricultural
1
land
within
the
several
school
districts
of
the
state
in
which
2
the
levy
for
the
general
school
fund
exceeds
five
dollars
and
3
forty
cents
per
thousand
dollars
of
assessed
value
the
levy
4
rate
under
section
257.1,
subsection
1,
paragraph
“a”
.
The
5
amount
of
the
credit
on
each
eligible
tract
of
agricultural
6
land
shall
be
the
amount
the
tax
levied
for
the
general
school
7
fund
exceeds
the
amount
of
tax
which
would
be
levied
on
each
8
eligible
tract
of
agricultural
land
were
the
levy
for
the
9
general
school
fund
five
dollars
and
forty
cents
per
thousand
10
dollars
of
assessed
value
the
levy
rate
under
section
257.1,
11
subsection
1,
paragraph
“a”
,
for
the
previous
year.
However,
12
in
the
case
of
a
deficiency
in
the
family
farm
tax
credit
fund
13
to
pay
the
credits
in
full,
the
credit
on
each
eligible
tract
14
of
agricultural
land
in
the
state
shall
be
proportionate
and
15
applied
as
provided
in
this
chapter
.
16
Sec.
4.
Section
425A.5,
Code
2023,
is
amended
to
read
as
17
follows:
18
425A.5
Computation
by
county
auditor.
19
The
family
farm
tax
credit
allowed
each
year
shall
be
20
computed
as
follows:
On
or
before
April
1,
the
county
auditor
21
shall
list
by
school
districts
all
tracts
of
agricultural
22
land
which
are
entitled
to
credit,
the
taxable
value
for
the
23
previous
year,
the
budget
from
each
school
district
for
the
24
previous
year,
and
the
tax
rate
determined
for
the
general
25
fund
of
the
school
district
in
the
manner
prescribed
in
26
section
444.3
for
the
previous
year,
and
if
the
tax
rate
is
in
27
excess
of
five
dollars
and
forty
cents
per
thousand
dollars
of
28
assessed
value
the
levy
rate
under
section
257.1,
subsection
29
1,
paragraph
“a”
,
the
auditor
shall
multiply
the
tax
levy
which
30
is
in
excess
of
five
dollars
and
forty
cents
per
thousand
31
dollars
of
assessed
value
the
levy
rate
under
section
257.1,
32
subsection
1,
paragraph
“a”
,
by
the
total
taxable
value
of
the
33
agricultural
land
entitled
to
credit
in
the
school
district,
34
and
on
or
before
April
1,
certify
the
total
amount
of
credit
35
-2-
LSB
1284YH
(10)
90
md/jh
2/
22
H.F.
1
and
the
total
number
of
acres
entitled
to
the
credit
to
the
1
department
of
revenue.
2
Sec.
5.
Section
426.3,
Code
2023,
is
amended
to
read
as
3
follows:
4
426.3
Where
credit
given.
5
The
agricultural
land
credit
fund
shall
be
apportioned
each
6
year
in
the
manner
hereinafter
provided
so
as
to
give
a
credit
7
against
the
tax
on
each
tract
of
agricultural
lands
within
the
8
several
school
districts
of
the
state
in
which
the
levy
for
9
the
general
school
fund
exceeds
five
dollars
and
forty
cents
10
per
thousand
dollars
of
assessed
value
the
levy
rate
under
11
section
257.1,
subsection
1,
paragraph
“a”
;
the
amount
of
such
12
credit
on
each
tract
of
such
lands
shall
be
the
amount
the
tax
13
levied
for
the
general
school
fund
exceeds
the
amount
of
tax
14
which
would
be
levied
on
said
tract
of
such
lands
were
the
15
levy
for
the
general
school
fund
five
dollars
and
forty
cents
16
per
thousand
dollars
of
assessed
value
the
levy
rate
under
17
section
257.1,
subsection
1,
paragraph
“a”
,
for
the
previous
18
year,
except
in
the
case
of
a
deficiency
in
the
agricultural
19
land
credit
fund
to
pay
said
credits
in
full,
in
which
case
the
20
credit
on
each
eligible
tract
of
such
lands
in
the
state
shall
21
be
proportionate
and
shall
be
applied
as
hereinafter
provided.
22
Sec.
6.
Section
426.6,
subsection
1,
Code
2023,
is
amended
23
to
read
as
follows:
24
1.
The
agricultural
land
tax
credit
allowed
each
year
25
shall
be
computed
as
follows:
On
or
before
April
1,
the
26
county
auditor
shall
list
by
school
districts
all
tracts
of
27
agricultural
lands
which
are
entitled
to
credit,
together
with
28
the
taxable
value
for
the
previous
year,
together
with
the
29
budget
from
each
school
district
for
the
previous
year,
and
the
30
tax
rate
determined
for
the
general
fund
of
the
district
in
31
the
manner
prescribed
in
section
444.3
for
the
previous
year,
32
and
if
such
tax
rate
is
in
excess
of
five
dollars
and
forty
33
cents
per
thousand
dollars
of
assessed
value
the
levy
rate
34
under
section
257.1,
subsection
1,
paragraph
“a”
,
the
auditor
35
-3-
LSB
1284YH
(10)
90
md/jh
3/
22
H.F.
1
shall
multiply
the
tax
levy
which
is
in
excess
of
five
dollars
1
and
forty
cents
per
thousand
dollars
of
assessed
value
the
2
levy
rate
under
section
257.1,
subsection
1,
paragraph
“a”
,
by
3
the
total
taxable
value
of
the
agricultural
lands
entitled
to
4
credit
in
the
district,
and
on
or
before
April
1,
certify
the
5
amount
to
the
department
of
revenue.
6
Sec.
7.
ADJUSTMENT
OF
CALCULATIONS.
For
property
tax
7
credits
under
chapters
425A
and
426
for
property
taxes
due
and
8
payable
in
the
fiscal
year
beginning
July
1,
2023,
the
tax
rate
9
determined
for
the
general
fund
of
the
school
district
in
the
10
manner
prescribed
in
section
444.3
for
the
previous
year
shall
11
be
determined
using
the
property
tax
levy
rate
under
section
12
257.1,
as
amended
in
this
division
of
this
Act.
13
Sec.
8.
EFFECTIVE
DATE.
This
division
of
this
Act,
being
14
deemed
of
immediate
importance,
takes
effect
upon
enactment.
15
Sec.
9.
APPLICABILITY.
The
following
apply
July
1,
2023,
16
for
school
budget
years
beginning
on
or
after
that
date:
17
1.
The
section
of
this
division
of
this
Act
amending
section
18
257.3,
subsection
1,
paragraph
“a”.
19
2.
The
section
of
this
division
of
this
Act
amending
section
20
257.3,
subsection
2,
paragraphs
“a”
and
“b”.
21
DIVISION
II
22
PROPERTY
ACTUAL
VALUATION
LIMITATION
23
Sec.
10.
Section
441.21,
subsection
1,
paragraph
a,
Code
24
2023,
is
amended
to
read
as
follows:
25
a.
(1)
All
property
subject
to
taxation
shall
be
valued
26
at
its
actual
value
which
shall
be
entered
opposite
each
item,
27
and,
except
as
otherwise
provided
in
this
section
,
shall
be
28
assessed
at
one
hundred
percent
of
its
actual
value,
and
the
29
value
so
assessed
shall
be
taken
and
considered
as
the
assessed
30
value
and
taxable
value
of
the
property
upon
which
the
levy
31
shall
be
made.
32
(2)
For
assessment
years
beginning
on
or
after
January
33
1,
2024,
and
notwithstanding
any
provision
of
law
to
the
34
contrary,
the
actual
value
of
each
individual
property,
35
-4-
LSB
1284YH
(10)
90
md/jh
4/
22
H.F.
1
including
after
adjustments
to
actual
values
made
as
1
the
result
of
equalization,
shall
not
exceed
one
hundred
2
three
percent
of
the
actual
value
of
the
property
for
the
3
immediately
preceding
assessment
year
unless
the
property
was
4
not
assessed
in
the
immediately
preceding
assessment
year,
5
the
property’s
boundaries
change,
there
is
a
change
to
the
6
property’s
classification,
or
new
construction,
additions,
7
or
improvements
have
been
made
to
the
property
other
than
8
normal
and
necessary
maintenance
or
repairs,
not
amounting
to
9
structural
replacements
or
modification.
10
Sec.
11.
Section
441.21,
subsection
1,
paragraph
b,
11
subparagraph
(1),
Code
2023,
is
amended
to
read
as
follows:
12
(1)
The
Subject
to
the
limitation
under
paragraph
“a”
,
13
subparagraph
(2),
the
actual
value
of
all
property
subject
14
to
assessment
and
taxation
shall
be
the
fair
and
reasonable
15
market
value
of
such
property
except
as
otherwise
provided
16
in
this
section
.
“Market
value”
is
defined
as
the
fair
and
17
reasonable
exchange
in
the
year
in
which
the
property
is
listed
18
and
valued
between
a
willing
buyer
and
a
willing
seller,
19
neither
being
under
any
compulsion
to
buy
or
sell
and
each
20
being
familiar
with
all
the
facts
relating
to
the
particular
21
property.
Sale
prices
of
the
property
or
comparable
property
22
in
normal
transactions
reflecting
market
value,
and
the
23
probable
availability
or
unavailability
of
persons
interested
24
in
purchasing
the
property,
shall
be
taken
into
consideration
25
in
arriving
at
its
market
value.
In
arriving
at
market
value,
26
sale
prices
of
property
in
abnormal
transactions
not
reflecting
27
market
value
shall
not
be
taken
into
account,
or
shall
be
28
adjusted
to
eliminate
the
effect
of
factors
which
distort
29
market
value,
including
but
not
limited
to
sales
to
immediate
30
family
of
the
seller,
foreclosure
or
other
forced
sales,
31
contract
sales,
discounted
purchase
transactions
or
purchase
of
32
adjoining
land
or
other
land
to
be
operated
as
a
unit.
33
Sec.
12.
Section
441.21,
subsection
1,
paragraph
g,
Code
34
2023,
is
amended
to
read
as
follows:
35
-5-
LSB
1284YH
(10)
90
md/jh
5/
22
H.F.
1
g.
Notwithstanding
any
other
provision
of
this
section
,
1
the
actual
value
of
any
property
shall
not
exceed
its
fair
and
2
reasonable
market
value,
subject
to
paragraph
“a”
,
subparagraph
3
(2),
except
agricultural
property
which
shall
be
valued
4
exclusively
as
provided
in
paragraph
“e”
and
paragraph
“a”
,
5
subparagraph
(2),
of
this
subsection
.
6
Sec.
13.
Section
441.21,
subsection
2,
Code
2023,
is
amended
7
to
read
as
follows:
8
2.
In
the
event
market
value
of
the
property
being
assessed
9
cannot
be
readily
established
in
the
foregoing
manner,
then
10
the
assessor
may
,
subject
to
the
limitation
under
subsection
11
1,
paragraph
“a”
,
subparagraph
(2),
determine
the
value
of
12
the
property
using
the
other
uniform
and
recognized
appraisal
13
methods
including
its
productive
and
earning
capacity,
if
14
any,
industrial
conditions,
its
cost,
physical
and
functional
15
depreciation
and
obsolescence
and
replacement
cost,
and
all
16
other
factors
which
would
assist
in
determining
the
fair
and
17
reasonable
market
value
of
the
property
but
the
actual
value
18
shall
not
be
determined
by
use
of
only
one
such
factor.
The
19
following
shall
not
be
taken
into
consideration:
Special
value
20
or
use
value
of
the
property
to
its
present
owner,
and
the
21
goodwill
or
value
of
a
business
which
uses
the
property
as
22
distinguished
from
the
value
of
the
property
as
property.
In
23
addition,
for
assessment
years
beginning
on
or
after
January
24
1,
2018,
and
unless
otherwise
required
for
property
valued
25
by
the
department
of
revenue
pursuant
to
chapters
428
,
433
,
26
437
,
and
438
,
the
assessor
shall
not
take
into
consideration
27
and
shall
not
request
from
any
person
sales
or
receipts
data,
28
expense
data,
balance
sheets,
bank
account
information,
or
29
other
data
related
to
the
financial
condition
of
a
business
30
operating
in
whole
or
in
part
on
the
property
if
the
property
31
is
both
classified
as
commercial
or
industrial
property
and
32
owned
and
used
by
the
owner
of
the
business.
However,
in
33
assessing
property
that
is
rented
or
leased
to
low-income
34
individuals
and
families
as
authorized
by
section
42
of
the
35
-6-
LSB
1284YH
(10)
90
md/jh
6/
22
H.F.
1
Internal
Revenue
Code,
as
amended,
and
which
section
limits
1
the
amount
that
the
individual
or
family
pays
for
the
rental
2
or
lease
of
units
in
the
property,
the
assessor
shall,
unless
3
the
owner
elects
to
withdraw
the
property
from
the
assessment
4
procedures
for
section
42
property,
use
the
productive
and
5
earning
capacity
from
the
actual
rents
received
as
a
method
6
of
appraisal
and
shall
take
into
account
the
extent
to
which
7
that
use
and
limitation
reduces
the
market
value
of
the
8
property.
The
assessor
shall
not
consider
any
tax
credit
9
equity
or
other
subsidized
financing
as
income
provided
to
10
the
property
in
determining
the
assessed
value.
The
property
11
owner
shall
notify
the
assessor
when
property
is
withdrawn
12
from
section
42
eligibility
under
the
Internal
Revenue
Code
13
or
if
the
owner
elects
to
withdraw
the
property
from
the
14
assessment
procedures
for
section
42
property
under
this
15
subsection
.
The
property
shall
not
be
subject
to
section
42
16
assessment
procedures
for
the
assessment
year
for
which
section
17
42
eligibility
is
withdrawn
or
an
election
is
made.
This
18
notification
must
be
provided
to
the
assessor
no
later
than
19
March
1
of
the
assessment
year
or
the
owner
will
be
subject
to
a
20
penalty
of
five
hundred
dollars
for
that
assessment
year.
The
21
penalty
shall
be
collected
at
the
same
time
and
in
the
same
22
manner
as
regular
property
taxes.
An
election
to
withdraw
23
from
the
assessment
procedures
for
section
42
property
is
24
irrevocable.
Property
that
is
withdrawn
from
the
assessment
25
procedures
for
section
42
property
shall
be
classified
and
26
assessed
as
residential
property
unless
the
property
otherwise
27
fails
to
meet
the
requirements
of
subsection
14
.
Upon
28
adoption
of
uniform
rules
by
the
department
of
revenue
or
29
succeeding
authority
covering
assessments
and
valuations
of
30
such
properties,
the
valuation
on
such
properties
shall
be
31
determined
in
accordance
with
such
rules
and
in
accordance
with
32
forms
and
guidelines
contained
in
the
real
property
appraisal
33
manual
prepared
by
the
department
as
updated
from
time
to
time
34
for
assessment
purposes
to
assure
uniformity,
but
such
rules,
35
-7-
LSB
1284YH
(10)
90
md/jh
7/
22
H.F.
1
forms,
and
guidelines
shall
not
be
inconsistent
with
or
change
1
the
foregoing
means
of
determining
the
actual,
market,
taxable
2
and
assessed
values.
3
DIVISION
III
4
LOCAL
GOVERNMENT
BONDING
REQUIREMENTS
5
Sec.
14.
Section
296.3,
Code
2023,
is
amended
to
read
as
6
follows:
7
296.3
Election
called
——
notice
.
8
1.
Within
ten
days
of
receipt
of
a
petition
filed
under
9
section
296.2
,
the
president
of
the
board
of
directors
shall
10
call
a
meeting
of
the
board.
The
meeting
shall
be
held
within
11
thirty
days
after
the
petition
was
received.
At
the
meeting,
12
the
board
shall
call
the
election,
fixing
the
time
of
the
13
election,
which
may
be
at
the
time
and
place
of
holding
the
14
regular
school
election
,
and
approve
publication
of
the
notice
15
required
under
subsection
2
.
However,
if
16
2.
a.
The
board
of
directors
shall
publish
notice
of
the
17
proposal
to
issue
the
bonds,
including
a
statement
of
the
18
amount
and
purpose
of
the
bonds,
a
statement
of
the
estimated
19
cost
of
the
project
for
which
the
bonds
are
to
be
issued,
and
20
a
statement
of
the
amount
of
and
repository
for
the
school
21
district
funds
designated
for
the
project
to
satisfy
the
22
requirement
of
paragraph
“b”
.
The
notice
shall
be
published
23
at
least
once,
not
more
than
twenty
days
after
the
meeting
24
under
subsection
1,
in
one
or
more
newspapers
having
general
25
circulation
within
the
district.
In
addition
to
the
published
26
notice
of
the
proposal
to
issue
the
bonds,
an
individual
27
notice
shall
be
mailed
to
each
property
owner
and
contract
28
purchaser
of
record
of
property
in
the
school
district
not
less
29
than
thirty
but
not
more
than
forty-five
days
prior
to
the
30
election.
Each
individual
notice
shall
include
all
information
31
in
the
published
notice
and
shall
also
provide
examples
of
the
32
estimated
property
tax
amount
that
would
be
due
and
payable
33
each
year
on
a
property
in
each
property
classification
with
an
34
assessed
value
of
one
hundred
thousand
dollars
or
one
hundred
35
-8-
LSB
1284YH
(10)
90
md/jh
8/
22
H.F.
1
acres
of
average
agricultural
property
in
the
school
district.
1
b.
The
school
district
shall,
prior
to
publishing
the
notice
2
of
the
proposal
under
paragraph
“a”
,
designate
and
deposit
in
3
one
or
more
funds
of
the
school
district
an
amount
equal
to
or
4
greater
than
ten
percent
of
the
total
cost
of
the
project
or
5
purpose
for
which
the
bonds
are
proposed
to
be
issued.
The
6
amount
so
deposited
and
designated
shall
be
used
solely
for
7
the
project
or
purpose
unless
the
proposition
of
issuing
the
8
bonds
fails
at
election
or
the
proposal
to
issue
the
bonds
is
9
abandoned
by
the
board
of
directors.
10
3.
If
the
board
determines
by
unanimous
vote
that
the
11
proposition
or
propositions
requested
by
a
petition
to
be
12
submitted
at
an
election
are
grossly
unrealistic
or
contrary
to
13
the
needs
of
the
school
district,
no
election
shall
be
called
14
and
the
notice
under
subsection
2
shall
not
be
published
.
15
If
more
than
one
petition
has
been
received
by
the
time
the
16
board
meets
to
consider
the
petition
triggering
the
meeting,
17
the
board
shall
act
upon
the
petitions
in
the
order
they
18
were
received
at
the
meeting
called
to
consider
the
initial
19
petition.
The
decision
of
the
board
may
be
appealed
to
the
20
state
board
of
education
as
provided
in
chapter
290
.
The
21
president
shall
notify
the
county
commissioner
of
elections
of
22
the
time
of
the
election.
23
Sec.
15.
Section
298.2,
subsection
4,
paragraph
a,
Code
24
2023,
is
amended
to
read
as
follows:
25
a.
The
board
may
on
its
own
motion,
and
upon
the
written
26
request
of
not
less
than
one
hundred
eligible
electors
or
27
thirty
percent
of
the
number
of
eligible
electors
voting
28
at
the
last
regular
school
election,
whichever
is
greater,
29
shall,
direct
the
county
commissioner
of
elections
to
provide
30
for
submitting
the
proposition
of
levying
the
voter-approved
31
physical
plant
and
equipment
levy
for
a
period
of
time
32
authorized
by
the
voters
at
the
election,
not
to
exceed
ten
33
years.
The
election
shall
be
held
on
a
date
specified
in
34
section
39.2,
subsection
4
,
paragraph
“c”
.
Individual
notices
35
-9-
LSB
1284YH
(10)
90
md/jh
9/
22
H.F.
1
shall
be
mailed
to
each
property
owner
and
contract
purchaser
1
of
record
of
property
in
the
school
district
not
less
than
2
thirty
but
not
more
than
forty-five
days
prior
to
the
election.
3
Each
individual
notice
shall
include
all
information
in
the
4
published
election
notice
and
shall
also
provide
examples
of
5
the
estimated
property
tax
amount
that
would
be
due
and
payable
6
each
year
on
a
property
in
each
property
classification
with
an
7
assessed
value
of
one
hundred
thousand
dollars
or
one
hundred
8
acres
of
average
agricultural
property
in
the
school
district.
9
The
proposition
is
adopted
if
a
majority
of
those
voting
on
the
10
proposition
at
the
election
approves
it.
The
voter-approved
11
physical
plant
and
equipment
levy
shall
be
funded
either
by
a
12
physical
plant
and
equipment
property
tax
or
by
a
combination
13
of
a
physical
plant
and
equipment
property
tax
and
a
physical
14
plant
and
equipment
income
surtax,
as
determined
by
the
board.
15
However,
if
the
board
intends
to
enter
into
a
rental
or
lease
16
arrangement
under
section
279.26
,
or
intends
to
enter
into
a
17
loan
agreement
under
section
297.36
,
only
a
property
tax
shall
18
be
levied
for
those
purposes.
Subject
to
the
limitations
19
of
section
298.14
,
if
the
board
uses
a
combination
of
a
20
physical
plant
and
equipment
property
tax
and
a
physical
plant
21
and
equipment
surtax,
for
each
fiscal
year
the
board
shall
22
determine
the
percent
of
income
surtax
to
be
imposed
expressed
23
as
full
percentage
points,
not
to
exceed
twenty
percent.
24
Sec.
16.
Section
298.18,
subsection
3,
Code
2023,
is
amended
25
to
read
as
follows:
26
3.
Notice
of
the
election
shall
be
given
by
the
county
27
commissioner
of
elections
according
to
section
49.53
.
In
28
addition
to
the
notice
of
the
election,
an
individual
notice
29
of
the
proposition
shall
be
mailed
to
each
property
owner
30
and
contract
purchaser
of
record
of
property
in
the
school
31
district
not
less
than
thirty
but
not
more
than
forty-five
32
days
prior
to
the
election.
Each
individual
notice
shall
33
include
all
information
in
the
election
notice
and
shall
also
34
provide
examples
of
the
estimated
property
tax
amount
that
35
-10-
LSB
1284YH
(10)
90
md/jh
10/
22
H.F.
1
would
be
due
and
payable
each
year
on
a
property
in
each
1
property
classification
with
an
assessed
value
of
one
hundred
2
thousand
dollars
or
one
hundred
acres
of
average
agricultural
3
property
in
the
school
district.
The
county
commissioner
of
4
elections
shall
conduct
the
election
pursuant
to
the
provisions
5
of
chapters
39
through
53
and
certify
the
results
to
the
board
6
of
directors.
The
proposition
shall
not
be
deemed
carried
7
or
adopted
unless
the
vote
in
favor
of
such
proposition
is
8
equal
to
at
least
sixty
percent
of
the
total
vote
cast
for
9
and
against
the
proposition
at
the
election.
Whenever
such
10
a
proposition
has
been
approved
by
the
voters
of
a
school
11
corporation
as
hereinbefore
provided,
no
further
approval
of
12
the
voters
of
such
school
corporation
shall
be
required
as
13
a
result
of
any
subsequent
change
in
the
boundaries
of
such
14
school
corporation.
15
Sec.
17.
Section
331.441,
subsection
2,
paragraph
b,
16
subparagraph
(10),
Code
2023,
is
amended
to
read
as
follows:
17
(10)
The
establishment
or
funding
of
programs
to
provide
18
for
or
assist
in
providing
for
the
acquisition,
restoration,
or
19
demolition
of
housing,
as
part
of
a
municipal
housing
project
20
under
chapter
403
or
otherwise,
or
for
other
and
purposes
as
21
may
be
authorized
under
chapter
403A
.
22
Sec.
18.
Section
331.441,
subsection
2,
paragraph
b,
23
subparagraphs
(13)
and
(14),
Code
2023,
are
amended
by
striking
24
the
subparagraphs.
25
Sec.
19.
Section
331.441,
subsection
2,
paragraph
c,
Code
26
2023,
is
amended
by
adding
the
following
new
subparagraphs:
27
NEW
SUBPARAGRAPH
.
(12)
The
acquisition,
pursuant
to
a
28
chapter
28E
agreement,
of
a
city
convention
center
or
veterans
29
memorial
auditorium,
including
the
renovation,
remodeling,
30
reconstruction,
expansion,
improvement,
or
equipping
of
such
a
31
center
or
auditorium,
provided
that
debt
service
funds
shall
32
not
be
derived
from
the
division
of
taxes
under
section
403.19.
33
NEW
SUBPARAGRAPH
.
(13)
The
aiding
of
the
planning,
34
undertaking,
and
carrying
out
of
urban
renewal
projects
under
35
-11-
LSB
1284YH
(10)
90
md/jh
11/
22
H.F.
1
the
authority
of
chapter
403
and
for
the
purposes
set
out
in
1
section
403.12.
However,
bonds
issued
for
this
purpose
are
2
subject
to
the
right
of
petition
for
an
election
as
provided
3
in
section
331.442,
subsection
5,
without
limitation
on
the
4
amount
of
the
bond
issue
or
the
population
of
the
county,
and
5
the
board
shall
include
notice
of
the
right
of
petition
in
6
the
notice
of
proposed
action
required
under
section
331.443,
7
subsection
2.
8
Sec.
20.
Section
331.442,
subsection
2,
paragraph
a,
Code
9
2023,
is
amended
to
read
as
follows:
10
a.
The
board
shall
publish
notice
of
the
proposal
to
issue
11
the
bonds,
including
a
statement
of
the
amount
and
purpose
12
of
the
bonds
,
and
a
statement
of
the
estimated
cost
of
the
13
project
for
which
the
bonds
are
to
be
issued
,
and
a
statement
14
of
the
amount
of
and
repository
for
the
county
funds
designated
15
for
the
project
to
satisfy
the
requirement
of
paragraph
“0b”
.
16
The
notice
shall
be
published
as
provided
in
section
331.305
17
with
the
minutes
of
the
meeting
at
which
the
board
adopts
a
18
resolution
to
call
a
county
special
election
to
vote
upon
19
the
question
of
issuing
the
bonds.
The
cost
of
the
project,
20
as
published
in
the
notice
pursuant
to
this
paragraph,
is
an
21
estimate
and
is
not
intended
to
be
binding
on
the
board
in
22
later
proceedings
related
to
the
project.
In
addition
to
23
the
published
notice
of
the
proposal
to
issue
the
bonds,
an
24
individual
notice
shall
be
mailed
to
each
property
owner
and
25
contract
purchaser
of
record
of
property
in
the
county
not
less
26
than
thirty
but
not
more
than
forty-five
days
prior
to
the
27
election.
Each
individual
notice
shall
include
all
information
28
in
the
published
notice
and
shall
also
provide
examples
of
the
29
estimated
property
tax
amount
that
would
be
due
and
payable
30
each
year
on
a
property
in
each
property
classification
with
an
31
assessed
value
of
one
hundred
thousand
dollars
or
one
hundred
32
acres
of
average
agricultural
property
in
the
county.
33
Sec.
21.
Section
331.442,
subsection
2,
Code
2023,
is
34
amended
by
adding
the
following
new
paragraph:
35
-12-
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1284YH
(10)
90
md/jh
12/
22
H.F.
1
NEW
PARAGRAPH
.
0b.
A
county
which
proposes
to
contract
1
indebtedness
and
issue
general
obligation
bonds
for
a
general
2
county
purpose
under
this
section
shall,
prior
to
publishing
3
the
notice
of
the
proposal
under
paragraph
“a”
,
designate
and
4
deposit
in
one
or
more
funds
of
the
county
an
amount
equal
to
5
or
greater
than
ten
percent
of
the
total
cost
of
the
project
6
or
purpose
for
which
the
bonds
are
proposed
to
be
issued.
The
7
amount
so
deposited
and
designated
shall
be
used
solely
for
8
the
project
or
purpose
unless
the
proposition
of
issuing
the
9
bonds
fails
at
election
or
the
proposal
to
issue
the
bonds
is
10
abandoned
by
the
board.
11
Sec.
22.
Section
331.442,
subsection
5,
paragraph
a,
12
unnumbered
paragraph
1,
Code
2023,
is
amended
to
read
as
13
follows:
14
Notwithstanding
subsection
2
,
a
board,
in
lieu
of
calling
15
an
election,
may
institute
proceedings
for
the
issuance
of
16
bonds
for
a
general
county
purpose
by
causing
a
notice
of
the
17
proposal
to
issue
the
bonds,
including
a
statement
of
the
18
amount
and
purpose
of
the
bonds,
a
statement
of
the
amount
of
19
and
repository
for
the
county
funds
designated
for
the
project
20
to
satisfy
the
requirement
of
subsection
2,
paragraph
“0b”
,
21
and
the
right
to
petition
for
an
election,
to
be
published
as
22
provided
in
section
331.305
at
least
ten
days
prior
to
the
23
meeting
at
which
it
is
proposed
to
take
action
for
the
issuance
24
of
the
bonds
subject
to
the
following
limitations:
25
Sec.
23.
Section
384.24,
subsection
3,
paragraph
q,
Code
26
2023,
is
amended
by
striking
the
paragraph.
27
Sec.
24.
Section
384.24,
subsection
3,
paragraph
u,
Code
28
2023,
is
amended
to
read
as
follows:
29
u.
The
establishment
or
funding
of
programs
to
provide
for
30
or
assist
in
providing
for
the
acquisition,
restoration,
or
31
demolition
of
housing,
as
part
of
a
municipal
housing
project
32
under
chapter
403
or
otherwise,
or
for
other
and
purposes
as
33
may
be
authorized
under
chapter
403A
.
34
Sec.
25.
Section
384.24,
subsection
4,
Code
2023,
is
amended
35
-13-
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22
H.F.
1
by
adding
the
following
new
paragraph:
1
NEW
PARAGRAPH
.
0i.
The
aiding
in
the
planning,
undertaking,
2
and
carrying
out
of
urban
renewal
projects
under
the
authority
3
of
chapter
403,
and
all
of
the
purposes
set
out
in
section
4
403.12.
However,
bonds
issued
for
this
purpose
are
subject
to
5
the
right
of
petition
for
an
election
as
provided
in
section
6
384.26,
without
limitation
on
the
amount
of
the
bond
issue
or
7
the
size
of
the
city,
and
the
council
shall
include
notice
of
8
the
right
of
petition
in
the
notice
required
under
section
9
384.25,
subsection
2.
10
Sec.
26.
Section
384.26,
subsection
2,
Code
2023,
is
amended
11
to
read
as
follows:
12
2.
a.
The
council
shall
publish
notice
of
the
proposal
13
to
issue
the
bonds,
including
a
statement
of
the
amount
and
14
purpose
of
the
bonds,
a
statement
of
the
estimated
cost
of
the
15
project
for
which
the
bonds
are
to
be
issued,
and
a
statement
16
of
the
amount
of
and
repository
for
the
city
funds
designated
17
for
the
project
to
satisfy
the
requirement
of
paragraph
“b”
.
18
The
notice
shall
be
published
as
provided
in
section
362.3
19
with
the
minutes
of
the
meeting
at
which
the
council
adopts
20
a
resolution
to
call
a
city
special
election
to
vote
upon
21
the
question
of
issuing
the
bonds.
The
cost
of
the
project,
22
as
published
in
the
notice
pursuant
to
this
paragraph,
is
an
23
estimate
and
is
not
binding
on
the
council
in
later
proceedings
24
related
to
the
project.
In
addition
to
the
published
notice
of
25
the
proposal
to
issue
the
bonds,
an
individual
notice
shall
be
26
mailed
to
each
property
owner
and
contract
purchaser
of
record
27
of
property
in
the
city
not
less
than
thirty
but
not
more
than
28
forty-five
days
prior
to
the
election.
Each
individual
notice
29
shall
include
all
information
in
the
published
notice
and
shall
30
also
provide
examples
of
the
estimated
property
tax
amount
31
that
would
be
due
and
payable
each
year
on
a
property
in
each
32
property
classification
with
an
assessed
value
of
one
hundred
33
thousand
dollars
or
one
hundred
acres
of
average
agricultural
34
property
in
the
city.
35
-14-
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1
b.
A
city
which
proposes
to
contract
indebtedness
and
issue
1
general
obligation
bonds
for
a
general
corporate
purpose
under
2
this
section
shall,
prior
to
publishing
the
notice
of
the
3
proposal
under
paragraph
“a”
,
designate
and
deposit
in
one
or
4
more
funds
of
the
city
an
amount
equal
to
or
greater
than
ten
5
percent
of
the
total
cost
of
the
project
or
purpose
for
which
6
the
bonds
are
proposed
to
be
issued.
The
amount
so
deposited
7
and
designated
shall
be
used
solely
for
the
project
or
purpose
8
unless
the
proposition
of
issuing
the
bonds
fails
at
election
9
or
the
proposal
to
issue
the
bonds
is
abandoned
by
the
council.
10
c.
Before
the
council
may
institute
proceedings
for
the
11
issuance
of
bonds
for
a
general
corporate
purpose,
it
shall
12
call
a
special
city
election
to
vote
upon
the
question
of
13
issuing
the
bonds.
At
the
election
the
proposition
must
be
14
submitted
in
the
following
form:
15
Shall
the
............
(insert
the
name
of
the
city)
issue
16
its
bonds
in
an
amount
not
exceeding
the
amount
of
$
....
for
17
the
purpose
of
..........
?
18
Sec.
27.
Section
384.26,
subsection
5,
paragraph
a,
19
unnumbered
paragraph
1,
Code
2023,
is
amended
to
read
as
20
follows:
21
Notwithstanding
the
provisions
of
subsection
2
,
paragraph
22
“c”
,
a
council
may,
in
lieu
of
calling
an
election,
institute
23
proceedings
for
the
issuance
of
bonds
for
a
general
corporate
24
purpose
by
causing
a
notice
of
the
proposal
to
issue
the
bonds,
25
including
a
statement
of
the
amount
and
purpose
of
the
bonds,
a
26
statement
of
the
amount
of
and
repository
for
the
city
funds
27
designated
for
the
project
to
satisfy
the
requirement
of
28
subsection
2,
paragraph
“b”
,
together
with
the
maximum
rate
of
29
interest
which
the
bonds
are
to
bear,
and
the
right
to
petition
30
for
an
election,
to
be
published
at
least
once
in
a
newspaper
31
of
general
circulation
within
the
city
at
least
ten
days
prior
32
to
the
meeting
at
which
it
is
proposed
to
take
action
for
the
33
issuance
of
the
bonds
subject
to
the
following
limitations:
34
Sec.
28.
Section
403.2,
subsection
3,
Code
2023,
is
amended
35
-15-
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1284YH
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90
md/jh
15/
22
H.F.
1
to
read
as
follows:
1
3.
It
is
further
found
and
declared
that
there
exists
in
2
this
state
the
continuing
need
for
programs
to
alleviate
and
3
prevent
conditions
of
unemployment
and
a
shortage
of
housing;
4
and
that
it
is
accordingly
necessary
to
assist
and
retain
5
local
industries
and
commercial
enterprises
to
strengthen
and
6
revitalize
the
economy
of
this
state
and
its
municipalities;
7
that
accordingly
it
is
necessary
to
provide
means
and
methods
8
for
the
encouragement
and
assistance
of
industrial
and
9
commercial
enterprises
in
locating,
purchasing,
constructing,
10
reconstructing,
modernizing,
improving,
maintaining,
repairing,
11
furnishing,
equipping,
and
expanding
in
this
state
and
its
12
municipalities,
for
the
provision
of
public
improvements
13
related
to
housing
and
residential
development,
and
for
the
14
construction
of
housing
for
low
and
moderate
income
families;
15
that
accordingly
it
is
necessary
to
authorize
local
governing
16
bodies
to
designate
areas
of
a
municipality
as
economic
17
development
areas
for
commercial
and
industrial
enterprises,
18
public
improvements
related
to
housing
and
residential
19
development,
or
construction
of
housing
for
low
and
moderate
20
income
families;
and
that
it
is
also
necessary
to
encourage
21
the
location
and
expansion
of
commercial
enterprises
to
more
22
conveniently
provide
needed
services
and
facilities
of
the
23
commercial
enterprises
to
municipalities
and
the
residents
of
24
the
municipalities.
Therefore,
the
powers
granted
in
this
25
chapter
constitute
the
performance
of
essential
public
purposes
26
for
this
state
and
its
municipalities.
27
Sec.
29.
Section
403.9,
subsection
2,
Code
2023,
is
amended
28
to
read
as
follows:
29
2.
Bonds
issued
under
this
section
shall
not
constitute
30
an
indebtedness
within
the
meaning
of
any
constitutional
or
31
statutory
debt
limitation
or
restriction,
and
shall
not
be
32
subject
to
the
provisions
of
any
other
law
or
charter
relating
33
to
the
authorization,
issuance
or
sale
of
bonds.
Bonds
issued
34
under
the
provisions
of
this
chapter
are
declared
to
be
issued
35
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1284YH
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90
md/jh
16/
22
H.F.
1
for
an
essential
public
and
governmental
purpose
and
,
together
1
with
interest
thereon
and
income
therefrom,
shall
be
exempted
2
from
all
taxes.
3
Sec.
30.
Section
403.9,
subsection
3,
Code
2023,
is
amended
4
by
adding
the
following
new
paragraph:
5
NEW
PARAGRAPH
.
c.
Beginning
July
1,
2023,
bonds
issued
6
under
this
chapter
shall
only
be
issued,
in
the
case
of
a
city,
7
in
the
manner
and
within
the
limitations
for
general
corporate
8
purpose
bonds
as
prescribed
by
chapter
384,
subchapter
III,
9
or
in
the
case
of
a
county,
in
the
manner
and
within
the
10
limitations
for
general
county
purpose
bonds
prescribed
by
11
chapter
331,
subchapter
IV,
part
3.
12
Sec.
31.
Section
403.12,
subsection
5,
Code
2023,
is
amended
13
to
read
as
follows:
14
5.
For
the
purposes
of
this
section
,
or
for
the
purpose
15
of
aiding
in
the
planning,
undertaking,
or
carrying
out
of
an
16
urban
renewal
project
of
a
municipality,
a
municipality
may,
in
17
addition
to
any
authority
to
issue
bonds
pursuant
to
section
18
403.9
,
issue
and
sell
its
general
obligation
bonds.
Any
bonds
19
issued
by
a
municipality
pursuant
to
this
section
must
be
20
issued,
in
the
case
of
a
city,
by
resolution
of
the
council
in
21
the
manner
and
within
the
limitations
prescribed
for
general
22
corporate
purpose
bonds
by
chapter
384,
subchapter
III
,
or
in
23
the
case
of
a
county,
by
resolution
of
the
board
of
supervisors
24
in
the
manner
and
within
the
limitations
prescribed
for
general
25
county
purpose
bonds
by
chapter
331,
subchapter
IV,
part
3
.
26
Bonds
issued
pursuant
to
the
provisions
of
this
subsection
must
27
be
sold
in
the
manner
prescribed
by
chapter
75
.
The
additional
28
power
granted
in
this
subsection
for
the
financing
of
public
29
undertakings
and
activities
by
municipalities
within
an
urban
30
renewal
area
shall
not
be
construed
as
a
limitation
of
the
31
existing
powers
of
municipalities.
32
EXPLANATION
33
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
34
the
explanation’s
substance
by
the
members
of
the
general
assembly.
35
-17-
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1284YH
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22
H.F.
1
This
bill
relates
to
local
government
funding
by
modifying
1
school
district
funding
provisions,
property
assessment
2
provisions,
and
bond
issuance
requirements.
3
DIVISION
I
——
SCHOOL
FOUNDATION
PROPERTY
TAX.
As
part
4
of
Iowa’s
system
for
funding
school
districts,
Code
section
5
257.3
requires
each
school
district
to
levy
each
year,
for
6
the
school
general
fund,
a
foundation
property
tax
equal
to
7
$5.40
per
$1,000
of
assessed
valuation
on
all
taxable
property
8
in
the
district.
An
exception
to
the
$5.40
levy
rate
is
for
9
recently
reorganized
and
dissolved
school
districts.
For
such
10
districts,
the
first
succeeding
year
requires
a
rate
of
$4.40,
11
the
second
succeeding
year
requires
a
rate
of
$4.90,
and
for
12
the
third
succeeding
year
and
thereafter
a
rate
of
$5.40.
The
13
bill
reduces
all
of
the
applicable
foundation
property
tax
14
rates
by
$0.50.
15
The
bill
provides
for
an
adjustment
of
property
tax
credit
16
calculations
under
Code
chapters
425A
(family
farm
tax
credit)
17
and
426
(agricultural
land
tax
credit)
for
property
taxes
due
18
and
payable
in
the
fiscal
year
beginning
July
1,
2023,
to
19
account
for
the
change
to
the
property
tax
levy
rate
under
Code
20
section
257.3
in
the
bill.
21
Division
I
takes
effect
upon
enactment.
22
The
sections
of
division
I
that
amend
Code
section
257.3
23
apply
July
1,
2023,
for
school
budget
years
beginning
on
or
24
after
that
date.
25
DIVISION
II
——
PROPERTY
ACTUAL
VALUATION
LIMITATION.
Under
26
Code
section
441.21,
all
property
subject
to
taxation
shall
be
27
valued
at
its
actual
value
and,
except
as
otherwise
provided
28
by
law,
shall
be
assessed
at
100
percent
of
its
actual
value,
29
and
the
value
so
assessed
shall
be
taken
and
considered
as
the
30
assessed
value
and
taxable
value
of
the
property
upon
which
31
the
levy
shall
be
made.
Actual
value
is
generally
required
32
to
be
the
fair
and
reasonable
market
value.
“Market
value”
33
is
defined
as
the
fair
and
reasonable
exchange
in
the
year
in
34
which
the
property
is
listed
and
valued
between
a
willing
buyer
35
-18-
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1284YH
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90
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22
H.F.
1
and
a
willing
seller,
neither
being
under
any
compulsion
to
buy
1
or
sell
and
each
being
familiar
with
all
the
facts
relating
to
2
the
particular
property,
but
excluding
certain
abnormal
sales.
3
The
bill
provides
that
for
assessment
years
beginning
4
on
or
after
January
1,
2024,
the
actual
value
of
each
5
individual
property,
including
after
adjustments
to
actual
6
values
made
as
the
result
of
equalization,
shall
not
exceed
7
103
percent
of
the
actual
value
of
the
property
for
the
8
immediately
preceding
assessment
year
unless
the
property
was
9
not
assessed
in
the
immediately
preceding
assessment
year,
10
the
property’s
boundaries
change,
there
is
a
change
to
the
11
property’s
classification,
or
new
construction,
additions,
12
or
improvements
have
been
made
to
the
property
other
than
13
normal
and
necessary
maintenance
or
repairs,
not
amounting
to
14
structural
replacements
or
modification.
15
The
bill
also
makes
conforming
changes
to
other
provisions
16
of
law
relating
to
the
assessment
of
property,
including
17
provisions
governing
the
valuation
of
agricultural
property
and
18
properties
for
which
alternative
valuation
methods
are
used
19
and
by
operation
of
Code
section
441.21(3).
The
provisions
20
of
the
bill
apply
to
other
special
methods
or
formulas
for
21
valuing
specified
property
to
the
extent
consistent
with
such
22
provisions.
23
DIVISION
III
——
LOCAL
GOVERNMENT
BONDING
REQUIREMENTS.
As
24
a
condition
of
and
prior
to
seeking
voter
approval
for
the
25
issuance
of
bonds
under
Code
chapter
296,
the
bill
requires
the
26
school
district
to
designate
and
deposit
in
one
or
more
funds
27
of
the
school
district
an
amount
equal
to
or
greater
than
10
28
percent
of
the
total
cost
of
the
project
or
purpose
for
which
29
the
bonds
are
proposed
to
be
issued.
The
amount
so
deposited
30
and
designated
shall
be
used
solely
for
the
project
or
purpose
31
unless
the
proposition
of
issuing
the
bonds
fails
at
election
32
or
the
proposal
to
issue
the
bonds
is
abandoned
by
the
school
33
board.
34
The
bill
also,
as
part
of
the
bond
approval
process
under
35
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Code
chapter
296,
requires
the
school
board
to
publish
a
notice
1
of
the
proposal
to
issue
bonds
that
includes
a
statement
2
of
the
amount
and
purpose
of
the
bonds,
a
statement
of
the
3
estimated
cost
of
the
project
for
which
the
bonds
are
to
be
4
issued,
and
a
statement
of
the
amount
of
and
repository
for
the
5
school
district
funds
designated
for
the
project
to
satisfy
6
the
requirement
of
the
bill.
In
addition
to
the
published
7
notice
of
the
proposal
to
issue
the
bonds,
the
bill
requires
8
an
individual
notice,
containing
certain
information,
to
be
9
mailed
to
each
property
owner
and
contract
purchaser
of
record
10
of
property
in
the
school
district
not
less
than
30
but
not
11
more
than
45
days
prior
to
the
election.
12
The
bill
also
amends
Code
section
298.2
relating
to
the
13
voter-approved
school
district
physical
plant
and
equipment
14
levy
and
the
provisions
of
Code
section
298.18
authorizing
the
15
imposition
of
a
school
district
bonded
indebtedness
property
16
tax
levy
in
excess
of
$2.70
per
$1,000
of
assessed
value
if
17
approved
at
election.
The
bill
requires,
in
addition
to
the
18
notice
of
the
election
under
each
section,
an
individual
notice
19
to
be
mailed
to
each
property
owner
and
contract
purchaser
of
20
record
of
property
in
the
school
district.
Each
individual
21
notice
shall
include
all
information
in
the
election
notice
22
and
shall
also
provide
examples
of
the
estimated
property
tax
23
amount
that
would
be
due
and
payable
each
year
on
a
property
in
24
each
property
classification
with
an
assessed
value
of
$100,000
25
or
100
acres
of
average
agricultural
property
in
the
school
26
district.
27
As
a
condition
of
and
prior
to
seeking
voter
approval
for
28
the
issuance
of
bonds
for
general
county
purposes
under
Code
29
section
331.442,
including
those
general
county
purpose
bonds
30
for
which
an
election
is
not
called,
the
bill
requires
a
county
31
to
designate
and
deposit
in
one
or
more
funds
of
the
county
an
32
amount
equal
to
or
greater
than
10
percent
of
the
total
cost
of
33
the
project
or
purpose
for
which
the
bonds
are
proposed
to
be
34
issued.
The
amount
so
deposited
and
designated
shall
be
used
35
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solely
for
the
project
or
purpose
unless
the
proposition
of
1
issuing
the
bonds
fails
at
election
or
the
proposal
to
issue
2
the
bonds
is
abandoned.
3
The
bill
also
requires
the
published
notice
of
the
proposal
4
to
issue
such
bonds
to
include
a
statement
of
the
amount
of
5
and
repository
for
the
county
funds
designated
for
the
project
6
to
satisfy
the
requirement
in
the
bill.
In
addition
to
the
7
published
notice
of
the
proposal
to
issue
the
bonds,
the
bill
8
requires
an
individual
notice,
containing
certain
information
9
to
be
mailed
to
each
property
owner
and
contract
purchaser
of
10
record
of
property
in
the
county
not
less
than
30
but
not
more
11
than
45
days
prior
to
the
election.
12
As
a
condition
of
and
prior
to
seeking
voter
approval
for
13
the
issuance
of
bonds
for
general
corporate
purposes
under
Code
14
section
384.26,
including
those
general
corporate
purpose
bonds
15
for
which
an
election
is
not
called,
the
bill
requires
a
city
16
to
designate
and
deposit
in
one
or
more
funds
of
the
city
an
17
amount
equal
to
or
greater
than
10
percent
of
the
total
cost
of
18
the
project
or
purpose
for
which
the
bonds
are
proposed
to
be
19
issued.
The
amount
so
deposited
and
designated
shall
be
used
20
solely
for
the
project
or
purpose
unless
the
proposition
of
21
issuing
the
bonds
fails
at
election
or
the
proposal
to
issue
22
the
bonds
is
abandoned.
23
The
bill
also,
as
part
of
the
general
corporate
purpose
bond
24
approval
process
under
Code
section
384.26,
requires
the
city
25
council
to
publish
a
notice
of
the
proposal
to
issue
bonds
that
26
includes
a
statement
of
the
amount
and
purpose
of
the
bonds,
27
a
statement
of
the
estimated
cost
of
the
project
for
which
28
the
bonds
are
to
be
issued,
and
a
statement
of
the
amount
of
29
and
repository
for
the
city
funds
designated
for
the
project
30
to
satisfy
the
requirement
of
the
bill.
In
addition
to
the
31
published
notice
of
the
proposal
to
issue
the
bonds,
the
bill
32
requires
an
individual
notice,
containing
certain
information,
33
to
be
mailed
to
each
property
owner
and
contract
purchaser
of
34
record
of
property
in
the
city
not
less
than
30
but
not
more
35
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than
45
days
prior
to
the
election.
1
Counties
and
cities
may
generally
contract
indebtedness
2
and
approve
the
issuance
of
general
obligation
bonds
to
3
carry
out
an
essential
county
purpose
or
essential
corporate
4
purpose
without
voter
approval,
while
the
issuance
of
general
5
obligation
bonds
to
carry
out
a
general
county
purpose
or
6
general
corporate
purpose
generally
requires
voter
approval.
7
The
bill
modifies
the
definition
of
“essential
county
purpose”
8
by
striking
certain
purposes
under
Code
chapter
403
(Iowa’s
9
urban
renewal
law)
and
certain
joint
governmental
purposes
10
under
a
Code
chapter
28E
agreement.
The
bill
adds
those
11
purposes
to
the
definition
of
“general
county
purpose”.
The
12
bill
makes
similar
changes
to
the
definitions
of
“essential
13
corporate
purpose”
and
“general
corporate
purpose”
under
Code
14
section
384.24
and
provides
that
beginning
July
1,
2023,
bonds
15
issued
under
Code
chapter
403
shall
only
be
issued,
in
the
case
16
of
a
city,
in
the
manner
and
within
the
limitations
for
general
17
corporate
purpose
bonds,
or
in
the
case
of
a
county,
in
the
18
manner
and
within
the
limitations
for
general
county
purpose
19
bonds.
20
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