Bill Text: IA SF2123 | 2019-2020 | 88th General Assembly | Introduced
Bill Title: A bill for an act relating to the adjustments to state foundation aid paid to a school district following an assessed value reduction for certain property and including effective date and applicability provisions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2020-02-13 - Subcommittee recommends amendment and passage. [SF2123 Detail]
Download: Iowa-2019-SF2123-Introduced.html
Senate
File
2123
-
Introduced
SENATE
FILE
2123
BY
NUNN
A
BILL
FOR
An
Act
relating
to
the
adjustments
to
state
foundation
aid
paid
1
to
a
school
district
following
an
assessed
value
reduction
2
for
certain
property
and
including
effective
date
and
3
applicability
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
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2123
Section
1.
Section
257.12,
subsection
1,
Code
2020,
is
1
amended
to
read
as
follows:
2
1.
If
a
school
district
is
required
to
repay
property
taxes
3
paid
for
school
taxes
levied
on
property
originally
assessed
4
at
five
million
dollars
or
more
because
the
assessment
was
5
subsequently
reduced
by
the
action
of
the
board
of
review,
6
property
assessment
appeal
board
,
or
judicial
action
,
and
the
7
amount
of
the
reduction
in
the
assessment
equals
at
least
one
8
hundred
thousand
dollars
or
two
percent
of
the
assessed
value
9
of
all
taxable
property
in
the
district
prior
to
the
reduction,
10
whichever
is
less,
the
school
district
is
eligible
for
an
11
adjustment
in
state
foundation
aid.
To
receive
the
adjustment
12
in
state
foundation
aid,
the
school
district
shall
apply
to
the
13
department
of
management
prior
to
the
beginning
of
the
budget
14
year
following
the
budget
year
in
which
the
repayment
of
the
15
property
taxes
occurred.
The
department
of
management
shall
16
determine
the
amount
of
adjustment
in
state
foundation
aid
17
pursuant
to
subsection
2
.
18
Sec.
2.
Section
441.39,
subsection
2,
Code
2020,
is
amended
19
to
read
as
follows:
20
2.
a.
In
addition
to
any
other
requirement
for
providing
21
of
notice,
if
a
property
owner
or
aggrieved
taxpayer
files
22
a
protest
against
the
assessment
of
property
valued
by
the
23
assessor
at
five
million
dollars
or
more
or
files
an
appeal
24
to
the
property
assessment
appeal
board
or
the
district
court
25
with
regard
to
such
property,
the
assessor
shall
provide
notice
26
to
the
school
district
in
which
such
property
is
located
27
within
ten
days
of
the
filing
of
the
protest
or
the
appeal,
as
28
applicable.
29
b.
If
property
originally
assessed
at
five
million
dollars
30
or
more
is
reduced
by
the
action
of
the
board
of
review,
31
property
assessment
appeal
board,
or
judicial
action,
and
the
32
amount
of
the
reduction
in
the
assessment
makes
the
school
33
district
eligible
for
an
adjustment
in
state
foundation
aid
34
under
section
257.12,
subsection
1,
the
assessor
shall
notify
35
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2123
the
school
district
within
ten
days
of
the
action.
1
Sec.
3.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
2
importance,
takes
effect
upon
enactment.
3
Sec.
4.
APPLICABILITY.
This
Act
applies
to
actions
of
4
a
board
of
review,
actions
of
the
property
assessment
appeal
5
board,
and
judicial
actions
occurring
on
or
after
the
effective
6
date
of
this
Act.
7
EXPLANATION
8
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
9
the
explanation’s
substance
by
the
members
of
the
general
assembly.
10
Code
section
257.12(1)
provides
that
if
a
school
district
11
is
required
to
repay
property
taxes
paid
for
school
taxes
12
levied
on
property
originally
assessed
at
$5
million
or
more
13
because
the
assessment
was
subsequently
reduced
by
the
action
14
of
the
property
assessment
appeal
board
or
judicial
action
and
15
the
amount
of
the
reduction
in
the
assessment
equals
at
least
16
$100,000
or
2
percent
of
the
assessed
value
of
all
taxable
17
property
in
the
district
prior
to
the
reduction,
whichever
is
18
less,
the
school
district
is
eligible
for
an
adjustment
in
19
state
foundation
aid.
This
bill
adds
an
assessment
reduction
20
by
the
board
of
review
to
the
provision.
21
The
bill
also
amends
Code
section
441.39
to
provide
that
if
22
a
property
originally
assessed
at
$5
million
or
more
is
reduced
23
by
the
action
of
the
board
of
review,
property
assessment
24
appeal
board,
or
judicial
action,
and
the
amount
of
the
25
reduction
in
the
assessment
makes
the
school
district
eligible
26
for
an
adjustment
in
state
foundation
aid,
the
assessor
shall
27
notify
the
school
district
within
10
days
of
the
action.
28
The
bill
takes
effect
upon
enactment
and
applies
to
actions
29
of
a
board
of
review,
actions
of
the
property
assessment
appeal
30
board,
and
judicial
actions
occurring
on
or
after
the
effective
31
date
of
the
bill.
32
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