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IA SF2228
Bill
Status
2/5/2026
Primary Sponsor
Herman Quirmbach
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AI Summary
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Reduces the school foundation property tax rate from $5.40 to $4.04 per thousand dollars of assessed valuation on all taxable property in school districts.
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Lowers the foundation property tax for reorganized school districts from $4.40 to $3.04 per thousand dollars of assessed valuation in the first year following reorganization or dissolution.
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Adjusts the phased-in tax rates for reorganized districts over succeeding years: $3.54 (first year), $3.79 (second year), and $4.04 (third year and thereafter), down from the previous rates of $4.90, $5.15, and $5.40.
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Amends the family farm tax credit calculation to reference the new foundation levy rate under Section 257.3 instead of the previous fixed dollar amounts.
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Repeals Iowa's education savings account program (Students First Act) as referenced in the bill title, though full repeal language appears in subsequent pages.
Legislative Description
A bill for an act relating to school district funding provisions, including reducing the foundation property tax and repealing the education savings account program, and including effective date and applicability provisions.
Last Action
Subcommittee: Sinclair, Kraayenbrink, and Quirmbach. S.J. 244.
2/10/2026