Governor Culver to Sign Property Tax Relief Legislation This Morning

DES MOINES, IA – January 20, 2010 – (RealEstateRama) — Governor Chet Culver today will sign three bills designed to protect Iowa taxpayers and maximize state aid for schools.

House File 2030 requires school districts to use their cash reserves before increasing local property taxes to cover budget shortfalls. The measure prevents school districts from shifting the burden to property taxpayers if the districts have plenty of money in reserves not designated for other purposes.

Senate Files 2045 and 2046 delay until next session the legislature’s decision on how much it will increase state aid for school districts for the 2011-2012 school year. The increase in state funding for schools is known as allowable growth. Delaying the decision gives the economy time to improve, allowing for positive growth in funding during the 2011 legislative session.

The Governor will sign the bills at the Capitol this morning. Details are below.

WEDNESDAY, JANUARY 20, 2010
WHAT:
Governor Chet Culver will sign property tax relief legislation (HF 2030) and bills to maximize state aid for schools (SF 2045 and SF 2046).

WHERE:
Kennedy Conference Room, Governor’s Office
State Capitol
Des Moines, IA

WHEN:
11:00 a.m.

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