House File 359 - Introduced HOUSE FILE 359 BY BAGNIEWSKI A BILL FOR An Act relating to disclosures on property tax statements 1 concerning school district funding reductions and individual 2 taxpayer payments to the education savings account program. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 1248YH (2) 91 jm/md
H.F. 359 Section 1. Section 445.5, subsection 1, Code 2025, is 1 amended by adding the following new paragraphs: 2 NEW PARAGRAPH . j. (1) A statement of how much less funding 3 the titleholders school district received in the current 4 school year from the previous school year as a result of 5 students receiving education savings account payments pursuant 6 to section 257.11B if such a reduction of funding exists. 7 (2) The department of management shall make all 8 calculations necessary to determine the information required 9 to be disclosed pursuant to subparagraph (1) and transmit such 10 information to the treasurer in a timely manner. 11 NEW PARAGRAPH . k. (1) A statement of how much of the 12 titleholders state income taxes have been used to fund the 13 education savings account program established in section 14 257.11B. 15 (2) The department of management and the department of 16 revenue shall collaborate to make all calculations necessary 17 to determine the information required to be disclosed pursuant 18 to subparagraph (1) and the department of management shall 19 transmit such information to the treasurer in a timely manner. 20 NEW PARAGRAPH . l. (1) The following or substantially 21 similar statement: 22 The gross reduction in state funding to your school district 23 in (the current school year) as a result of students receiving 24 education savings account payments is (amount). 25 (2) The department of management shall make all 26 calculations necessary to determine the information required 27 to be disclosed pursuant to subparagraph (1) and transmit such 28 information to the treasurer in a timely manner. 29 EXPLANATION 30 The inclusion of this explanation does not constitute agreement with 31 the explanations substance by the members of the general assembly. 32 This bill relates to disclosures on property tax statements 33 concerning school district funding reductions and individual 34 taxpayer payments to the education savings account program. 35 -1- LSB 1248YH (2) 91 jm/md 1/ 2
H.F. 359 The bill requires each statement of tax due and payable 1 by a titleholder to include information concerning how much 2 less funding the titleholders school district received in the 3 current school year from the previous school year as a result 4 of students receiving payments through the education savings 5 account (ESA) program if such a reduction of funding exists; a 6 statement of how much of the titleholders state income taxes 7 have been used to fund the ESA program; and the following or 8 substantially similar language: The gross reduction in state 9 funding to your school district in (the current school year) 10 as a result of students receiving education savings account 11 payments is (amount). 12 The bill requires the department of management (DOM) to 13 make all calculations necessary to determine the information 14 required to be disclosed to a titleholder concerning reductions 15 to the titleholders school district due to students receiving 16 payments through the ESA program, requires DOM and the 17 department of revenue to collaborate to make calculations 18 necessary to determine information required to be disclosed to 19 a titleholder concerning the titleholders total payments of 20 income taxes used to fund the ESA program, and requires DOM to 21 transmit such information to the treasurer in a timely manner. 22 -2- LSB 1248YH (2) 91 jm/md 2/ 2