A bill for an act relating to disclosures on property tax statements concerning school district funding reductions and individual taxpayer payments to the education savings account program.

House

File

359

-

Introduced

HOUSE

FILE

359

BY

BAGNIEWSKI

A

BILL

FOR

An

Act

relating

to

disclosures

on

property

tax

statements

1

concerning

school

district

funding

reductions

and

individual

2

taxpayer

payments

to

the

education

savings

account

program.

3

BE

IT

ENACTED

BY

THE

GENERAL

ASSEMBLY

OF

THE

STATE

OF

IOWA:

4

TLSB

1248YH

(2)

91

jm/md

H.F.

359

Section

1.

Section

445.5,

subsection

1,

Code

2025,

is

1

amended

by

adding

the

following

new

paragraphs:

2

NEW

PARAGRAPH

.

j.

(1)

A

statement

of

how

much

less

funding

3

the

titleholder’s

school

district

received

in

the

current

4

school

year

from

the

previous

school

year

as

a

result

of

5

students

receiving

education

savings

account

payments

pursuant

6

to

section

257.11B

if

such

a

reduction

of

funding

exists.

7

(2)

The

department

of

management

shall

make

all

8

calculations

necessary

to

determine

the

information

required

9

to

be

disclosed

pursuant

to

subparagraph

(1)

and

transmit

such

10

information

to

the

treasurer

in

a

timely

manner.

11

NEW

PARAGRAPH

.

k.

(1)

A

statement

of

how

much

of

the

12

titleholder’s

state

income

taxes

have

been

used

to

fund

the

13

education

savings

account

program

established

in

section

14

257.11B.

15

(2)

The

department

of

management

and

the

department

of

16

revenue

shall

collaborate

to

make

all

calculations

necessary

17

to

determine

the

information

required

to

be

disclosed

pursuant

18

to

subparagraph

(1)

and

the

department

of

management

shall

19

transmit

such

information

to

the

treasurer

in

a

timely

manner.

20

NEW

PARAGRAPH

.

l.

(1)

The

following

or

substantially

21

similar

statement:

22

The

gross

reduction

in

state

funding

to

your

school

district

23

in

(the

current

school

year)

as

a

result

of

students

receiving

24

education

savings

account

payments

is

(amount).

25

(2)

The

department

of

management

shall

make

all

26

calculations

necessary

to

determine

the

information

required

27

to

be

disclosed

pursuant

to

subparagraph

(1)

and

transmit

such

28

information

to

the

treasurer

in

a

timely

manner.

29

EXPLANATION

30

The

inclusion

of

this

explanation

does

not

constitute

agreement

with

31

the

explanation’s

substance

by

the

members

of

the

general

assembly.

32

This

bill

relates

to

disclosures

on

property

tax

statements

33

concerning

school

district

funding

reductions

and

individual

34

taxpayer

payments

to

the

education

savings

account

program.

35

-1-

LSB

1248YH

(2)

91

jm/md

1/

2

H.F.

359

The

bill

requires

each

statement

of

tax

due

and

payable

1

by

a

titleholder

to

include

information

concerning

how

much

2

less

funding

the

titleholder’s

school

district

received

in

the

3

current

school

year

from

the

previous

school

year

as

a

result

4

of

students

receiving

payments

through

the

education

savings

5

account

(ESA)

program

if

such

a

reduction

of

funding

exists;

a

6

statement

of

how

much

of

the

titleholder’s

state

income

taxes

7

have

been

used

to

fund

the

ESA

program;

and

the

following

or

8

substantially

similar

language:

“The

gross

reduction

in

state

9

funding

to

your

school

district

in

(the

current

school

year)

10

as

a

result

of

students

receiving

education

savings

account

11

payments

is

(amount).”

12

The

bill

requires

the

department

of

management

(DOM)

to

13

make

all

calculations

necessary

to

determine

the

information

14

required

to

be

disclosed

to

a

titleholder

concerning

reductions

15

to

the

titleholder’s

school

district

due

to

students

receiving

16

payments

through

the

ESA

program,

requires

DOM

and

the

17

department

of

revenue

to

collaborate

to

make

calculations

18

necessary

to

determine

information

required

to

be

disclosed

to

19

a

titleholder

concerning

the

titleholder’s

total

payments

of

20

income

taxes

used

to

fund

the

ESA

program,

and

requires

DOM

to

21

transmit

such

information

to

the

treasurer

in

a

timely

manner.

22

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