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What changed in HF 660

The bill as introduced, compared with the version both chambers passed (90th General Assembly).

2 passages reworded, 7 added and 4 removed; 4 of 17 unchanged.

~~Removed~~ AddedIntroduced text Text as passed Amendments

Compares wording only. The printed bills also mark changes to existing law with strikes and underlines, which aren’t shown here.

~~Section 1. Section 423.2A, subsection 2, paragraph g, Code 2023, is amended to read as follows:~~

Section 1. Section 331.423, subsection 2, paragraph b, subparagraph (3), subparagraph division (a), subparagraph subdivision (i), if enacted by 2023 Iowa Acts, House File 718, section 2, is amended to read as follows:

g. Beginning the first day of the quarter following July 1, 2014, transfer to the raceway facility tax rebate fund created in section 423.4, subsection 11, paragraph “e”, that portion of the sales tax receipts collected and remitted upon sales of tangible personal property or services furnished by retailers at a raceway facility meeting the qualifications of section 423.4, subsection 11, that remains after the transfers required in paragraphs “a” through “f” of this subsection 2. This paragraph is repealed June 30, 2025 2030, or thirty days following the date on which an amount of total rebates specified in section 423.4, subsection 11, paragraph “c”, subparagraph (3), subparagraph division (b), has been provided or thirty days following the date on which rebates cease as provided in section 423.4, subsection 11, paragraph “c”, subparagraph (4), whichever is earliest.

(i) In addition to the limitation under subparagraph (2), if the county’s actual levy rate imposed under this paragraph for the current fiscal year is three dollars and ninety-five cents or less per thousand dollars of assessed value and the total assessed value used to calculate taxes for rural county services under this paragraph for the budget year exceeds one hundred three percent, but is less than one hundred six percent, of the total assessed value used to calculate taxes for rural county services for the current fiscal year, the levy rate imposed under this subsection 2 for the budget year shall not exceed a rate per thousand dollars of assessed value that is equal to one thousand multiplied by the quotient of the current fiscal year’s actual property tax dollars certified for levy under this subsection 2 divided by one hundred two percent of the total assessed value used to calculate taxes for rural county services for the current fiscal year.

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2. Section 331.423, subsection 2, paragraph b, subparagraph (3), subparagraph division (b), subparagraph subdivision (i), if enacted by 2023 Iowa Acts, House File 718, section 2, is amended to read as follows:

2. Section 423.4, subsection 11, paragraph c, subparagraph (3), unnumbered paragraph 1, Code 2023, is amended to read as follows: The transactions described in paragraph “b” for which sales or use tax was collected and the rebate is sought occurred on or after January 1, 2015, but before January 1, 2025 2030. However, the total amount of rebates provided pursuant to this subsection shall not exceed the lesser of the following amounts:

(i) In addition to the limitation under subparagraph (2), if the county’s actual levy rate imposed under this subsection 2 for the current fiscal year is three dollars and ninety-five cents or less per thousand dollars of assessed value and the total assessed value used to calculate taxes for rural county services under this paragraph for the budget year is equal to or exceeds one hundred six percent of the total assessed value used to calculate taxes for rural county services for the current fiscal year, the levy rate imposed under this subsection 2 for the budget year shall not exceed a rate per thousand dollars of assessed value that is equal to one thousand multiplied by the quotient of the current fiscal year’s actual property tax dollars certified for levy under this subsection 2 divided by one hundred three percent of the total assessed value used to calculate taxes for rural county services for the current fiscal year.

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3. Section ~~423.4,~~ 423.2A, subsection ~~11,~~ 2, paragraph ~~c, subparagraph (3), subparagraph division (a),~~ g, Code 2023, is amended to read as follows:

(a) The amount of project costs incurred and paid by the owner or operator on or after May 16, 2018. For purposes of this subsection, “project costs” means costs incurred and paid by the owner or operator in connection with the construction and installation of new property or of modifications to existing property if such property upon completion of one or more projects becomes or remains part of the raceway facility and constitutes the renovation, remodeling, reconstruction, expansion, equipping, or improvement of real property that comprises the raceway facility. “Project costs” does not include any amount of cost that is not substantiated to the department pursuant to subparagraphs (1) and (2) within ninety days of the date it is paid by the owner or operator.

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4. Section 423.4, subsection 11, paragraph c, subparagraph (3), unnumbered paragraph 1, Code 2023, is amended to read as follows: The transactions described in paragraph “b” for which sales or use tax was collected and the rebate is sought occurred on or after January 1, 2015, but before January 1, 2025 2030. However, the total amount of rebates provided pursuant to this subsection shall not exceed the lesser of the following amounts:

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4. 5. Section 423.4, subsection 11, paragraph g, Code 2023, is amended to read as follows:

g. This subsection is repealed June 30, 2025 2030, or thirty days following the date on which one million eight hundred thousand dollars in total rebates have been provided and no overpayment of rebates exists, or thirty days following the date on which rebates cease as provided in paragraph “c”, subparagraph (4), and no overpayment of rebates exists, whichever is earliest.