House
File
2321
-
Introduced
HOUSE
FILE
2321
BY
KEARNS
A
BILL
FOR
An
Act
relating
to
commercial
and
property
tax
replacement
1
payments
and
including
effective
date
and
applicability
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
6043YH
(2)
85
md/sc
H.F.
2321
Section
1.
Section
441.21A,
subsection
4,
paragraph
a,
Code
1
2014,
is
amended
to
read
as
follows:
2
a.
The
difference
between
the
assessed
valuation
of
all
3
commercial
property
,
and
industrial
property
,
and
property
4
valued
by
the
department
of
revenue
under
chapter
434
in
the
5
taxing
district
for
the
assessment
year
used
to
calculate
taxes
6
which
are
due
and
payable
in
the
applicable
fiscal
year
and
7
the
actual
value
of
all
commercial
property
,
and
industrial
8
property
,
and
property
valued
by
the
department
of
revenue
9
under
chapter
434
in
the
taxing
district
that
is
subject
to
10
assessment
and
taxation
for
the
same
assessment
year.
If
11
the
difference
between
the
assessed
value
of
all
commercial
12
property
,
and
industrial
property
,
and
property
valued
by
the
13
department
of
revenue
under
chapter
434
in
the
taxing
district
14
and
the
actual
valuation
of
all
commercial
property
,
and
15
industrial
property
,
and
property
valued
by
the
department
of
16
revenue
under
chapter
434
in
the
district
is
zero,
there
is
no
17
tax
replacement
for
that
taxing
district
for
the
fiscal
year.
18
Sec.
2.
EFFECTIVE
UPON
ENACTMENT.
This
Act,
being
deemed
of
19
immediate
importance,
takes
effect
upon
enactment.
20
Sec.
3.
APPLICABILITY.
This
Act
applies
to
commercial
and
21
industrial
property
tax
replacement
claims
for
fiscal
years
22
beginning
on
or
after
July
1,
2014.
23
EXPLANATION
24
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
25
the
explanation’s
substance
by
the
members
of
the
general
assembly.
26
Code
section
441.21A
provides
commercial
and
industrial
27
property
tax
replacement
payments
to
local
government
for
28
fiscal
years
beginning
on
or
after
July
1,
2014.
The
amount
of
29
the
commercial
and
industrial
property
tax
replacement
payment
30
is
calculated
in
part
using
the
difference
in
the
assessed
31
valuation
and
actual
valuation
of
commercial
and
industrial
32
property
located
in
a
taxing
district.
This
bill
adds
railway
33
property
valued
by
the
department
of
revenue
under
Code
chapter
34
434
to
the
list
of
property
in
each
taxing
district
with
which
35
-1-
LSB
6043YH
(2)
85
md/sc
1/
2
H.F.
2321
the
replacement
claims
are
calculated.
1
The
bill
takes
effect
upon
enactment
and
applies
to
2
commercial
and
industrial
property
tax
replacement
claims
for
3
fiscal
years
beginning
on
or
after
July
1,
2014.
4
-2-
LSB
6043YH
(2)
85
md/sc
2/
2