The bill amends Section 445.5 of the Iowa Code to require property tax statements to include specific disclosures related to school district funding reductions and taxpayer contributions to the education savings account (ESA) program. It mandates that tax statements provide information on the reduction in funding that a titleholder's school district has experienced due to students receiving ESA payments, as well as the amount of the titleholder's state income taxes that have been allocated to fund the ESA program. Additionally, a standardized statement regarding the gross reduction in state funding to the school district must be included.

To facilitate these disclosures, the bill assigns responsibilities to the Department of Management (DOM) to perform necessary calculations and transmit the required information to the treasurer in a timely manner. Furthermore, it requires collaboration between DOM and the Department of Revenue to determine the total income tax payments used for the ESA program. This legislative change aims to enhance transparency regarding the financial impacts of the ESA program on local school districts and taxpayers.

Statutes affected:
Introduced: 445.5