Financing Your Athletic Field
State Wide Penny
During 2008, the Iowa Legislature passed legislation and the Governor signed into law the Statewide Penny for schools. The Statewide Penny will replace the current School Infrastructure Local Option Sales (SILO) Tax that all schools in Iowa receive.
Types of Expenditures available for Statewide Penny Tax:
Expenditures include the cost of purchasing, building, furnishing, reconstructing, repairing, improving or remodeling a schoolhouse or schoolhouses and additions thereto, gymnasium, stadium, field house, school bus garage, teachers’ or superintendent’s home(s), and procuring a site, or purchasing land to add to a site already owned, or procuring and improving a site for an athletic field, or improving a site already owned for an athletic field, and for any one or more of such purposes(296.1). Expenditures include acquiring sites for school purposes, erecting, completing or improving buildings authorized for school purposes or acquiring equipment(real property) for schools, sites, and buildings (298.21).
This page is solely for information purposes only. We are not liable for funding or responsible for your institutions ability in acquiring funding.
