House File 2152 - Introduced HOUSE FILE 2152 BY WESSEL-KROESCHELL A BILL FOR An Act relating to the property tax exemption for dwelling 1 units owned by certain nonprofit organizations and including 2 applicability provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5770HH (5) 83 md/sc

H.F. 2152 Section 1. Section 427.1, subsection 21A, Code Supplement 1 2009, is amended to read as follows: 2 21A. Dwelling unit property owned by community housing 3 development organization. Dwelling unit property owned and 4 managed by a community housing development organization, as 5 recognized by the state of Iowa and the federal government 6 pursuant to criteria for community housing development 7 organization designation contained in the HOME program of 8 the federal National Affordable Housing Act of 1990, if the 9 organization is also a nonprofit organization exempt from 10 federal income tax under section 501(c)(3) of the Internal 11 Revenue Code and owns and manages more than one hundred fifty 12 dwelling units that are located in a city with a population 13 of more than one hundred ten thousand. For the 2005 and 2006 14 assessment years, an application is not required to be filed to 15 receive the exemption . For the 2007 and subsequent assessment 16 years, an application for exemption must be filed with the 17 assessing authority not later than February 1 of the assessment 18 year for which the exemption is sought. Upon the filing and 19 allowance of the claim, the claim shall be allowed on the 20 property for successive years without further filing as long as 21 the property continues to qualify for the exemption. 22 Sec. 2. APPLICABILITY. This Act applies to assessment years 23 beginning on or after January 1, 2011. 24 EXPLANATION 25 Current law provides an exemption from property taxation 26 for dwelling unit property owned and managed by a nonprofit 27 community housing development organization if the organization 28 owns and manages more than 150 dwelling units located in a city 29 with a population of more than 110,000. 30 This bill removes the requirement that the nonprofit 31 organization own and manage more than 150 dwelling units 32 located in a city with a population of more than 110,000. The 33 bill also removes the provision that allows an organization to 34 receive the exemption during 2005 and 2006 assessment years 35 -1- LSB 5770HH (5) 83 md/sc 1/ 2

H.F. 2152 without filing an application for the exemption. 1 This bill applies to assessment years beginning on or after 2 January 1, 2011. 3 -2- LSB 5770HH (5) 83 md/sc 2/ 2