Senate File 2049 - Introduced SENATE FILE 2049 BY R. TAYLOR , BISIGNANO , LYKAM , GIDDENS , QUIRMBACH , PETERSEN , J. SMITH , WAHLS , KINNEY , DOTZLER , and BOULTON A BILL FOR An Act relating to the application of specified licensure 1 provisions to investment property owned by designated 2 licensees. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5231XS (4) 88 ja/rn

S.F. 2049 Section 1. Section 103.1, Code 2020, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 10A. “Investment property” means property, 3 other than a principal residence, leased to another person 4 or owned for the primary purpose of selling the property to 5 generate a short-term capital gain, short-term capital loss, 6 long-term capital gain, or long-term capital loss, as defined 7 in 26 U.S.C. §1222. 8 Sec. 2. Section 103.22, Code 2020, is amended by adding the 9 following new subsection: 10 NEW SUBSECTION . 16. Prohibit an owner of investment 11 property who is a licensed class A or class B journeyman 12 electrician from performing work on the owner’s investment 13 property. 14 Sec. 3. Section 105.2, Code 2020, is amended by adding the 15 following new subsection: 16 NEW SUBSECTION . 8A. “Investment property” means property, 17 other than a principal residence, leased to another person 18 or owned for the primary purpose of selling the property to 19 generate a short-term capital gain, short-term capital loss, 20 long-term capital gain, or long-term capital loss, as defined 21 in 26 U.S.C. §1222. 22 Sec. 4. Section 105.11, Code 2020, is amended by adding the 23 following new subsection: 24 NEW SUBSECTION . 15. Prohibit an owner of investment 25 property who is a licensed journeyperson from performing work 26 on the owner’s investment property. 27 EXPLANATION 28 The inclusion of this explanation does not constitute agreement with 29 the explanation’s substance by the members of the general assembly. 30 This bill relates to the application of electrician, 31 plumbing, mechanical, HVAC, refrigeration, sheet metal, and 32 hydronic systems licensure provisions to investment property 33 owned by specified licensees. 34 The bill provides the provisions of Code chapter 103, 35 -1- LSB 5231XS (4) 88 ja/rn 1/ 2

S.F. 2049 relating to electrician licensure, do not prohibit licensed 1 class A or class B journeyman electricians from performing work 2 on their investment property. 3 The bill also provides the provisions of Code chapter 4 105, relating to plumbing, mechanical, HVAC, refrigeration, 5 sheet metal, and hydronic systems licensure, do not prohibit 6 journeypersons from performing work on their investment 7 property. 8 For purposes of Code chapter 103 and Code chapter 105, the 9 bill defines “investment property” to mean property leased to 10 another person or property owned for the primary purpose of 11 selling the property to generate a short-term capital gain, 12 short-term capital loss, long-term capital gain, or long-term 13 capital loss, as defined in 26 U.S.C. §1222, so long as the 14 property is not the licensee’s principal residence. 15 -2- LSB 5231XS (4) 88 ja/rn 2/ 2