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House Study Bill 64 - IntroducedA Bill ForAn Act 1relating to the assessment and taxation of certain
2sanitary sewage and storm water drainage property and
3including applicability provisions.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 427.1, Code 2023, is amended by adding
2the following new subsection:
3 NEW SUBSECTION. 42. Sanitary sewage or storm water drainage
4property. Property owned or operated by a public utility, as
5defined in section 476.1, subsection 3, that is directly and
6primarily used for the purposes specified under section 476.1,
7subsection 3, paragraph “d”.
8 Sec. 2. APPLICABILITY. This Act applies to assessment years
9beginning on or after January 1, 2024.
10EXPLANATION
11The inclusion of this explanation does not constitute agreement with
12the explanation’s substance by the members of the general assembly.
13This bill amends Code section 427.1 to establish a property
14tax exemption for property owned or operated by a public
15utility that is directly and primarily used for furnishing
16sanitary sewage or storm water drainage disposal by piped
17collection system to the public for compensation. Under the
18bill, “public utility” means the same as defined in Code
19section 476.1. Under Code section 421.17, the director of
20revenue has the authority to issue rules as are necessary to
21provide for the uniform application of the exemptions provided
22in Code section 427.1 in all assessor jurisdictions in the
23state.
24The bill applies to assessment years beginning on or after
25January 1, 2024.
-1-md/jh
2sanitary sewage and storm water drainage property and
3including applicability provisions.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 427.1, Code 2023, is amended by adding
2the following new subsection:
3 NEW SUBSECTION. 42. Sanitary sewage or storm water drainage
4property. Property owned or operated by a public utility, as
5defined in section 476.1, subsection 3, that is directly and
6primarily used for the purposes specified under section 476.1,
7subsection 3, paragraph “d”.
8 Sec. 2. APPLICABILITY. This Act applies to assessment years
9beginning on or after January 1, 2024.
10EXPLANATION
11The inclusion of this explanation does not constitute agreement with
12the explanation’s substance by the members of the general assembly.
13This bill amends Code section 427.1 to establish a property
14tax exemption for property owned or operated by a public
15utility that is directly and primarily used for furnishing
16sanitary sewage or storm water drainage disposal by piped
17collection system to the public for compensation. Under the
18bill, “public utility” means the same as defined in Code
19section 476.1. Under Code section 421.17, the director of
20revenue has the authority to issue rules as are necessary to
21provide for the uniform application of the exemptions provided
22in Code section 427.1 in all assessor jurisdictions in the
23state.
24The bill applies to assessment years beginning on or after
25January 1, 2024.
-1-md/jh