Bill > SJR6

This joint resolution proposes an amendment to the Iowa Constitution that would repeal the existing natural resources and outdoor recreation trust fund and establish a new property tax relief trust fund. The new trust fund would be created within the state treasury specifically to reduce property tax rates for elementary and secondary education across school districts. Funding for this trust fund would be contingent upon increasing the state sales and use tax rate, with the additional revenue generated from the tax increase being annually credited to the fund, up to a maximum amount equivalent to a three-eighths of one percent sales tax. The fund's moneys would be exclusively used to lower foundation property tax levy rates equally across all school districts, with the allocated amount being treated as property taxes. Notably, no revenue would be credited to the fund until the sales and use tax rate is actually increased. If adopted, the resolution would first be published and then referred to the next general assembly before being submitted to voters for final ratification.

Government Affairs

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SJR6