ARC 4327C

ARC 4327C

MANAGEMENT DEPARTMENT[541]

Notice of Intended Action

Proposing rule making related to calculating net general fund revenues and providing an opportunity for public comment

The Management Department hereby proposes to adopt new Chapter 15, "Calculating Net General Fund Revenues," Iowa Administrative Code.

Legal Authority for Rule Making

This rule making is proposed under the authority provided in Iowa Code section 8.6 and 2018 Iowa Acts, chapter 1161, section 133.

State or Federal Law Implemented

This rule making implements, in whole or in part, 2018 Iowa Acts, chapter 1161, section 133.

Purpose and Summary

The proposed rule making will establish procedures to calculate net General Fund revenues and will define "total appropriated general fund revenues," "transfers from reserved funds," "tax and other refunds," and "school infrastructure transfers," including the types and categories of receipts that will be included within each definition and in the calculation of net General Fund revenues.

The Director of the Department approved this Notice of Intended Action on February 8, 2019.

Fiscal Impact

This rule making has no fiscal impact to the State of Iowa.

Jobs Impact

After analysis and review of this rule making, no impact on jobs has been found.

Waivers

Any person who believes that the application of the discretionary provisions of this rule making would result in hardship or injustice to that person may petition the Department for a waiver of the discretionary provisions, if any, pursuant to rule 541—1.3(8).

Public Comment

Any interested person may submit written or oral comments concerning this proposed rule making. Written or oral comments in response to this rule making must be received by the Department no later than 4:30 p.m. on April 2, 2019. Comments should be directed to:

Public Hearing

No public hearing is scheduled at this time. As provided in Iowa Code section 17A.4(1)"b," an oral presentation regarding this rule making may be demanded by 25 interested persons, a governmental subdivision, the Administrative Rules Review Committee, an agency, or an association having 25 or more members.

Review by Administrative Rules Review Committee

The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rule making by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rule making at its regular monthly meeting or at a special meeting. The Committee's meetings are open to the public, and interested persons may be heard as provided in Iowa Code section 17A.8(6).

The following rule-making action is proposed:

Adopt the following new 541—Chapter 15:

CHAPTER 15

CALCULATING NET GENERAL FUND REVENUES

541—15.1(87GA,ch1161) Calculation of net general fund revenues.

15.1(1) Definitions. For purposes of this rule:

"Comprehensive annual financial report of the state" means the report established under Iowa Code section 8A.502(8).

"Fiscal year" means the fiscal year of government as established in Iowa Code section 8.36.

"Revenue estimating conference" means the conference established in Iowa Code section 8.22A(1).

"School infrastructure transfers" means transfers from the general fund of the state to the secure an advanced vision for education fund created under Iowa Code section 423F.2(2) and as determined by the revenue estimating conference.

"Tax and other refunds" means tax refunds as determined by the revenue estimating conference under Iowa Code section 8.22A(4).

"Total appropriated general fund revenues" means total funds deposited into the general fund of the state as defined in Iowa Code section 444.21 and determined by the revenue estimating conference established in Iowa Code section 8.22A(1).

"Transfers from reserve funds" means the transfers established under Iowa Code section 8.55(2)"b" to the general fund from the economic emergency fund established under Iowa Code section 8.55(1).

15.1(2) Calculation of net general fund revenues. Net general fund revenues are calculated for each fiscal year using the total appropriated general fund revenues for each fiscal year, less tax and other refunds and school infrastructure transfers for each fiscal year pursuant to the accounting rules for accruals established under the comprehensive annual financial report of the state.

This rule is intended to implement 2018 Iowa Acts, chapter 1161, section 133.