Document Type

Report

Publication Date

3-3-1998

Number

297

Abstract

This staff paper-reviews the Senate (SSB2072) anU House (HSB688) versions of'a proposed 1998 Amendment.to the Iowa Constitution and.provides a preliminary analysis of the fiscal impacts'on the,state general fund receipts, general fund appropriations, and local property^taxes assuming each proposal was implemented in FY1984. While the year-to-year reductions in spending are relatively small,the cumulative fiscal impact of the SSB2072 would likely have resulted in (1) a FY1997 state general-fund limit that allows 32 percent less spending'than•actual FY1997, (2) a $710-million reduction in the growth of state aid-to local government; and (3)'a29.7 percent increase in property taxes, if property taxes;were used,to fully replace: the reduction in-growth of state aid to local governments.

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