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protecting
K-12 education funding and the state’s ability to pay its bills on
time.
Unlike the governor’s
fiscally reckless ultimatum to legislative Republicans, SF 2304
attempts to balance one-time shifts (including $44.8 million from
the EEF), budget cuts and employee furloughs.
Governor Vilsack’s attempt to put Republicans in a
political box by forcing a choice between a $120 million raid of the
EEF or a 2.6 percent across the board budget cut failed.
Republicans opted for a more thoughtful and balanced approach
that was designed to protect schools, prevent continuing deficits
and stop any tax increases in future years.
The
bill has four major components: $44.85 million from the EEF to cover
K-12 school foundation aid, $51.2 million from unreserved funds
shifted into the general fund, $12.8 million for judicial branch and
executive branch furloughs, and $17.6 million for the one percent
across the board cut to executive branch departments and to the
Legislature.
The
bill was approved by the committee on a party line 14-11 vote.
It was approved by the full Senate on Tuesday on a 28-18
party-line vote and is scheduled for debate in the House on
Wednesday afternoon. It
is the intention of the Republican leadership to get a bill to the
governor’s desk before this Friday, March 1.
Ways
& Means Update
Bills
Assigned in the Ways & Means
Committee
this week:
HF
2015 An act relating to the eligibility for a military
service property tax exemption by a current or former member of the
Iowa national guard.
HF
2086 An act relating to the refund of sales or use tax paid
on materials used in the construction of a nonprofit private museum.
HF
2137 An act relating to property taxation of certain lands
leased to others by the department of corrections or department of
human services.
HF
2203 An act expanding the types and numbers of veterans
eligible for the military service tax credit.
HF
2244 An act relating to the qualification of property for
purposes of the forest reservation property tax exemption.
HF
2336 An act relating to a property tax credit or rent
constituting property taxes paid for military veterans with a
service- connected disability.
HF
2372 An act relating to a phase-out of the state
income tax on certain pension or retirement pay.
HF
2441 An act exempting from state individual income tax the
active duty pay of a member of the Iowa national guard or the armed
forces of the United States.
SF
450
An act extending veterans benefits, preferences, and tax exemptions
to certain members of reserve forces of the United States and the
Iowa national guard.
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Week
in Review Archives
