The Iowa House has approved an extension to the one-cent sales tax for school infrastructure.
State representative Gary Worthan of Storm Lake says it now goes to the Senate for their approval… “So it will extend the one-cent sales tax to 2050. Right now, it expires in 2029, and so that only allows school districts to bond for ten years against that income. You don’t write ten year bonds, most of them are 20-year.”
School groups have been pushing for the Legislature to either extend the tax’s “sunset” or repeal the sunset because having the sales tax saves property taxpayer dollars. Worthan says extending it is very important for school districts like Storm Lake that face space shortages.
State senator Mark Segebart believes it will be approved by the Senate… “I know they’re working on it in the Senate, and my presumption is it will be voted on fairly soon. Most Senators are encouraging that it can happen this year.”
Last year, the extension was approved by the House, but wasn’t considered by the Senate.
Worthan and Segebart made their comments during a legislative forum Saturday morning in Storm Lake.