Iowa HF 2027: 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.

Bill Text

House File 2027 - Introduced
HOUSE FILE 2027
BY BAGNIEWSKI
A BILL FOR
An Act relating to disclosures on property tax statements1
concerning school district funding reductions and individual2
taxpayer payments to the education savings account program.3
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:4
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H.F. 2027
Section 1. Section 445.5, subsection 1, Code 2024, is1
amended by adding the following new paragraphs:2
NEW PARAGRAPH. j. (1) A statement of how much less funding3
the titleholder’s school district received in the current4
school year from the previous school year as a result of5
students receiving education savings account payments pursuant6
to section 257.11B if such a reduction of funding exists.7
(2) The department of management shall make all8
calculations necessary to determine the information required9
to be disclosed pursuant to subparagraph (1) and transmit such10
information to the treasurer in a timely manner.11
NEW PARAGRAPH. k. (1) A statement of how much of the12
titleholder’s state income taxes have been used to fund the13
education savings account program established in section14
257.11B.15
(2) The department of management and the department of16
revenue shall collaborate to make all calculations necessary17
to determine the information required to be disclosed pursuant18
to subparagraph (1) and the department of management shall19
transmit such information to the treasurer in a timely manner.20
NEW PARAGRAPH. l. (1) The following or substantially21
similar statement:22
The gross reduction in state funding to your school district23
in (the current school year) as a result of students receiving24
education savings account payments is (amount).25
(2) The department of management shall make all26
calculations necessary to determine the information required27
to be disclosed pursuant to subparagraph (1) and transmit such28
information to the treasurer in a timely manner.29
EXPLANATION30
The inclusion of this explanation does not constitute agreement with31
the explanation’s substance by the members of the general assembly.32
This bill relates to disclosures on property tax statements33
concerning school district funding reductions and individual34
taxpayer payments to the education savings account program.35
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H.F. 2027
The bill requires each statement of tax due and payable1
by a titleholder to include information concerning how much2
less funding the titleholder’s school district received in the3
current school year from the previous school year as a result4
of students receiving payments through the education savings5
account (ESA) program if such a reduction of funding exists; a6
statement of how much of the titleholder’s state income taxes7
have been used to fund the ESA program; and the following or8
substantially similar language: “The gross reduction in state9
funding to your school district in (the current school year)10
as a result of students receiving education savings account11
payments is (amount).”12
The bill requires the department of management (DOM) to13
make all calculations necessary to determine the information14
required to be disclosed to a titleholder concerning reductions15
to the titleholder’s school district due to students receiving16
payments through the ESA program, requires DOM and the17
department of revenue to collaborate to make calculations18
necessary to determine information required to be disclosed to19
a titleholder concerning the titleholder’s total payments of20
income taxes used to fund the ESA program, and requires DOM to21
transmit such information to the treasurer in a timely manner.22
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