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IA HF230
A bill for an act extending the period of time for collecting sales tax for deposit in the secure an advanced vision for education fund.
summary
Introduced
02/06/2017
02/06/2017
In Committee
02/06/2017
02/06/2017
Crossed Over
Passed
Dead
05/05/2018
05/05/2018
Introduced Session
87th General Assembly
Bill Summary
A bill for an act extending the period of time for collecting sales tax for deposit in the secure an advanced vision for education fund.
AI Summary
This bill extends the period of time for collecting sales tax for deposit in the Secure an Advanced Vision for Education (SAVE) fund, a fund used to support education initiatives in the state of Iowa. Specifically, the bill amends the existing law to change the repeal date of the SAVE fund from December 31, 2029 to January 1, 2050, effectively extending the collection of the sales tax for an additional 20 years. The bill also amends the sales tax and use tax rates, reducing them from 6% to 5% on January 1, 2050 instead of January 1, 2030 as previously scheduled.
Committee Categories
Budget and Finance
Sponsors (10)
Jim Carlin (R)*,
Cecil Dolecheck (R)*,
Joel Fry (R)*,
Tedd Gassman (R)*,
Kevin Koester (R)*,
John Landon (R)*,
Norlin Mommsen (R)*,
Tom Moore (R)*,
Sandy Salmon (R)*,
Rob Taylor (R)*,
Last Action
Fiscal note. (on 03/21/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=87&ba=HF230 |
| BillText | http://coolice.legis.iowa.gov/Legislation/87thGA/Bills/HouseFiles/Introduced/HF230.html |
| Bill | http://coolice.legis.iowa.gov/Legislation/87thGA/Bills/HouseFiles/Introduced/HF230.pdf |
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