1.
a.All revenues arising under the operation of the provisions of this subchapter II shall
be deposited into the general fund of the state.
b.Subsequent to the deposit into the general fund of the state, the director shall credit
an amount equal to the product of the sales tax rate imposed in section 423.2 times the sales
price of the tangible personal property or services furnished to purchasers at a baseball and
softballcomplexthathasreceivedanawardundersection15F.207, Code2019, andthatmeets
the qualifications of section 423.4, subsection 10, into the baseball and softball complex sales
tax rebate fund created under section 423.4, subsection 10, paragraph “e”. The director shall
creditthemoneysbeginningthefirstdayofthequarterfollowingJuly1,2016. Thisparagraph
is repealed thirty days f
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1. a. All revenues arising under the operation of the provisions of this subchapter II shall
be deposited into the general fund of the state.
b. Subsequent to the deposit into the general fund of the state, the director shall credit
an amount equal to the product of the sales tax rate imposed in section 423.2 times the sales
price of the tangible personal property or services furnished to purchasers at a baseball and
softballcomplexthathasreceivedanawardundersection15F.207, Code2019, andthatmeets
the qualifications of section 423.4, subsection 10, into the baseball and softball complex sales
tax rebate fund created under section 423.4, subsection 10, paragraph “e”. The director shall
creditthemoneysbeginningthefirstdayofthequarterfollowingJuly1,2016. Thisparagraph
is repealed thirty days following the date on which five million dollars in total rebates have
been provided under section 423.4, subsection 10.
2. Subsequent to the deposit into the general fund of the state pursuant to subsection 1,
the department shall do the following in the order prescribed:
a. Transfer the revenues collected under chapter 423B.
b. Transfer from the remaining revenues the amounts required under Article VII, section
10, of the Constitution of the State of Iowa to the natural resources and outdoor recreation
trust fund created in section 461.31, if applicable.
c. Transfer one-sixth of the remaining revenues to the secure an advanced vision for
education fund created in section 423F.2. This paragraph “c” is repealed January 1, 2051.
d. Transfer to the baseball and softball complex sales tax rebate fund that portion of the
sales tax receipts described in subsection 1, paragraph “b”, remaining after the transfers
required under paragraphs “a”, “b”, and “c” of this subsection 2. This paragraph is repealed
thirtydaysfollowingthedateonwhichfivemilliondollarsintotalrebateshavebeenprovided
under section 423.4, subsection 10.
e. Beginning the first day of the calendar quarter beginning on the reinvestment
district’s commencement date, subject to remittance limitations established by the economic
development authority board pursuant to section 15J.4, subsection 3, transfer to a district
account created in the state reinvestment district fund for each reinvestment district
established under chapter 15J, the amount of new state sales tax revenue, determined in
section15J.5,subsection1,paragraph“b”,inthedistrict,thatremainsafterthepriortransfers
required under this subsection 2. Such transfers shall cease pursuant to section 15J.8.
f. Subject to the limitation on the calculation and deposit of sales tax increment revenues
in section 418.12, beginning the first day of the quarter following adoption of the resolution
pursuant to section 418.4, subsection 3, paragraph “d”, transfer to the account created in the
sales tax increment fund for each governmental entity approved to use sales tax increment
revenues under chapter 418, that portion of the increase in sales tax revenue, determined in
section 418.11, subsection 2, paragraph “d”, in the applicable area of the governmental entity,
that remains after the other transfers required under this subsection 2.
g. Beginning the first day of the quarter following July 1, 2014, transfer to the raceway
facility tax rebate fund created in section 423.4, subsection 11, paragraph “e”, that portion
of the sales tax receipts collected and remitted upon sales of tangible personal property or
servicesfurnishedbyretailersataracewayfacilitymeetingthequalificationsofsection423.4,
subsection 11, that remains after the transfers required in paragraphs “a” through “f” of this
subsection 2. This paragraph is repealed June 30, 2030, or thirty days following the date
on which an amount of total rebates specified in section 423.4, subsection 11, paragraph
“c”, subparagraph (3), subparagraph division (b), has been provided or thirty days following
the date on which rebates cease as provided in section 423.4, subsection 11, paragraph “c”,
subparagraph (4), whichever is earliest.
h. Beginning July 1, 2025, transfer to the energy infrastructure revolving loan fund
under section 476.46A the portion of sales tax revenues attributable to the expiration of the
exemption period specified in all of the following:
(1) Section 423.3, subsection 92, paragraph “a”, subparagraph (2) or (3).
(2) Section 423.3, subsection 93, paragraph “a”, subparagraph (2) or (3).
(3) Section 423.3, subsection 95, paragraph “a”, subparagraph (2) or (3).
3. Of the amount of sales tax revenue actually transferred per quarter pursuant to
subsection 2, paragraphs “e” and “f”, the department shall retain an amount equal to the
actual cost of administering the transfers under subsection 2, paragraphs “e” and “f”, or
twenty-five thousand dollars, whichever is less. The amount retained by the department
pursuant to this subsection shall be divided pro rata each quarter between the amounts
that would have been transferred pursuant to subsection 2, paragraphs “e” and “f”, without
the deduction made by operation of this subsection. Revenues retained by the department
pursuanttothissubsectionshallbeconsideredappropriatedreceiptsasdefinedinsection8.2.