Read the full stored bill text
House
File
2791
-
Introduced
HOUSE
FILE
2791
BY
COMMITTEE
ON
WAYS
AND
MEANS
(SUCCESSOR
TO
HSB
781)
A
BILL
FOR
An
Act
permitting
an
exchange
of
the
cash
reserve
levy
for
1
another
local
levy
within
the
school
budget
for
certain
2
school
districts
to
correct
for
an
extreme
circumstance
and
3
including
effective
date
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
TLSB
6962HV
(2)
91
mb/md
H.F.
2791
Section
1.
SCHOOL
DISTRICT
CASH
RESERVE
LEVY
INCREASE
——
1
SCHOOL
BUDGET
YEAR
2026-2027.
2
1.
For
the
school
budget
year
beginning
July
1,
2026,
a
3
school
district
for
which
the
taxable
value
used
to
calculate
4
school
district
property
taxes
for
the
school
budget
year
5
beginning
July
1,
2025,
was
reduced
by
one
hundred
million
6
dollars
or
more
due
to
a
correction
to
the
taxable
value
of
7
a
single
property
within
the
school
district
made
during
the
8
school
budget
year
beginning
July
1,
2025,
may
increase
the
9
school
district’s
proposed
cash
reserve
levy
under
section
10
298.10
to
an
amount
that
exceeds
the
limitations
of
section
11
298.10,
if
the
district
complies
with
subsection
2.
12
2.
A
school
district
that
increases
its
cash
reserve
levy
13
pursuant
to
this
section
shall
also
reduce
one
or
more
other
14
property
tax
levies
of
the
school
district,
including
the
15
district
management
levy
under
section
298.4,
by
a
total
amount
16
equal
to
or
greater
than
the
increase
in
the
cash
reserve
17
levy
so
that
the
total
property
tax
dollars
for
all
property
18
tax
levies
of
the
school
district
does
not
exceed
the
school
19
district’s
combined
amount
of
property
tax
dollars
determined
20
under
section
24.2A,
subsection
2,
paragraph
“b”,
subparagraph
21
(3).
22
3.
A
school
district
that
wishes
to
adjust
its
levy
rates
23
pursuant
to
this
section
shall
notify
the
department
of
24
management
in
a
manner
prescribed
by
the
department.
Following
25
receipt
of
the
notice
from
the
school
district,
the
department
26
of
management
shall
adjust
the
school
district’s
property
tax
27
levy
rates
as
necessary
to
implement
this
section.
28
Sec.
2.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
29
importance,
takes
effect
upon
enactment.
30
EXPLANATION
31
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
32
the
explanation’s
substance
by
the
members
of
the
general
assembly.
33
This
bill
provides
that
for
the
school
budget
year
beginning
34
July
1,
2026,
a
school
district
for
which
the
taxable
value
35
-1-
LSB
6962HV
(2)
91
mb/md
1/
2
H.F.
2791
used
to
calculate
school
district
property
taxes
for
the
school
1
budget
year
beginning
July
1,
2025,
was
reduced
by
$100
million
2
or
more
due
to
a
correction
to
the
taxable
value
of
a
single
3
property
within
the
school
district
made
during
the
school
4
budget
year
beginning
July
1,
2025,
may
increase
the
school
5
district’s
proposed
cash
reserve
levy
under
Code
section
298.10
6
to
an
amount
that
exceeds
the
limitations
of
Code
section
7
298.10
if
the
district
reduces
one
or
more
property
tax
levies
8
of
the
school
district,
including
the
district’s
management
9
levy
under
Code
section
298.4,
by
an
amount
equal
to
or
greater
10
than
the
amount
of
the
increase
to
the
cash
reserve
levy
so
11
that
the
school
district
still
complies
with
the
total
proposed
12
property
tax
dollars
under
Code
section
24.2A.
13
A
school
district
that
wishes
to
adjust
its
levy
rates
14
pursuant
to
the
bill
shall
notify
the
department
of
management
15
in
a
manner
prescribed
by
the
department.
The
department
16
shall
adjust
the
school
district’s
property
tax
levy
rates
as
17
necessary
to
implement
the
bill.
18
The
bill
takes
effect
upon
enactment.
19
-2-
LSB
6962HV
(2)
91
mb/md
2/
2