1.
a.A physical plant and equipment levy of not exceeding one dollar and sixty-seven
cents per thousand dollars of assessed valuation in the district is established except as
otherwise provided in this subsection. The physical plant and equipment levy consists
of the regular physical plant and equipment levy of not exceeding thirty-three cents per
thousand dollars of assessed valuation in the district and a voter-approved physical plant
and equipment levy of not exceeding one dollar and thirty-four cents per thousand dollars of
assessed valuation in the district. However, the voter-approved physical plant and equipment
levy may consist of a combination of a physical plant and equipment property tax levy and a
physical plant and equipment income surtax as provided in subsection 4 with the
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1. a. A physical plant and equipment levy of not exceeding one dollar and sixty-seven
cents per thousand dollars of assessed valuation in the district is established except as
otherwise provided in this subsection. The physical plant and equipment levy consists
of the regular physical plant and equipment levy of not exceeding thirty-three cents per
thousand dollars of assessed valuation in the district and a voter-approved physical plant
and equipment levy of not exceeding one dollar and thirty-four cents per thousand dollars of
assessed valuation in the district. However, the voter-approved physical plant and equipment
levy may consist of a combination of a physical plant and equipment property tax levy and a
physical plant and equipment income surtax as provided in subsection 4 with the maximum
amount levied and imposed limited to an amount that could be raised by a one dollar and
thirty-four cent property tax levy.
b. For school budget years beginning on or after July 1, 2015, a school district may by
resolution of the board of directors adopted prior to April 30 preceding the budget year
impose a physical plant and equipment levy at a rate in excess of the levy rate limitations
under paragraph “a” if the board has refunded or refinanced a loan agreement entered into
under section 297.36 and such refunding or refinancing complies with the maturity period
authorized under section 297.36, subsection 1, paragraph “c”, and results in a lower amount
of interest on the amount of the loan agreement. However, the rate imposed by a school
district under this paragraph shall not exceed the rate imposed during the budget year in
which the loan agreement was refunded or refinanced. Authorization to exceed the levy rate
limitations of paragraph “a” shall terminate upon the maturity of the loan agreement after
refunding or refinancing. Upon adoption of the resolution under this paragraph “b”, the
board shall comply with the requirements of section 297.36, subsection 1, paragraph “b”.
2. If the electors of a school district have authorized a voter-approved physical plant and
equipment levy not exceeding sixty-seven cents per thousand dollars of assessed valuation
in the district prior to July 1, 1997, the levy shall continue for the period authorized under
the voter-approved levy, and the maximum levy that can be authorized by the electors
under the voter-approved levy on or after July 1, 1997, under this section, is an additional
sixty-seven cents for a period to coincide with the period for which the initial physical plant
and equipment levy in the district was approved.
3. The board of directors of a school district may certify for levy by April 30 of a school
year a tax on all taxable property in the school district for the regular physical plant and
equipment levy.
4. a. The board may on its own motion, and upon the written request of not less than
one hundred eligible electors or thirty percent of the number of eligible electors voting at
the last regular school election, whichever is greater, shall, direct the county commissioner
of elections to provide for submitting the proposition of levying the voter-approved physical
plant and equipment levy for a period of time authorized by the voters at the election, not to
exceed ten years. The election shall be held on a date specified in section 39.2, subsection
4, paragraph “c”. The proposition is adopted if a majority of those voting on the proposition
at the election approves it. The voter-approved physical plant and equipment levy shall
be funded either by a physical plant and equipment property tax or by a combination of
a physical plant and equipment property tax and a physical plant and equipment income
surtax, as determined by the board. However, if the board intends to enter into a rental
or lease arrangement under section 279.26, or intends to enter into a loan agreement
under section 297.36, only a property tax shall be levied for those purposes. Subject to
the limitations of section 298.14, if the board uses a combination of a physical plant and
equipment property tax and a physical plant and equipment surtax, for each fiscal year
the board shall determine the percent of income surtax to be imposed expressed as full
percentage points, not to exceed twenty percent.
b. Ifacombinationofapropertytaxandincomesurtaxisused, byApril30oftheprevious
school year, the board shall certify the percent of the income surtax to be imposed and the
amount to be raised to the department of management and the department of management
shallestablishtherateofthepropertytaxandincomesurtaxfortheschoolyear. Thephysical
plant and equipment property tax and income surtax shall be levied or imposed, collected,
and paid to the school district in the manner provided for the instructional support program
in sections 257.21 through 257.26.
5. a. The proposition to levy the voter-approved physical plant and equipment levy is not
affected by a change in the boundaries of the school district, except as otherwise provided
in this section. If each school district involved in a school reorganization under chapter 275
has adopted the voter-approved physical plant and equipment levy, and if the voters have not
voted upon the proposition to levy the voter-approved physical plant and equipment levy in
the reorganized district, the existing voter-approved physical plant and equipment levy is in
effect for the reorganized district for the least amount and the shortest time for which it is in
effect in any of the districts.
b. Anauthorizedlevyfortheperiodoftimeapprovedisnotaffectedasaresultofafailure
of a proposition proposed to expand the purposes for which the funds may be expended.