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House Amendment 5308

Amendment Text

PAG LIN
  1  1    Amend House File 2466 as follows:
  1  2    #1.  Page 15, by inserting after line 21 the
  1  3 following:  
  1  4                      "DIVISION    
  1  5    Sec.    .  Section 404.5, Code 1995, is amended by
  1  6 adding the following new unnumbered paragraph:
  1  7    NEW UNNUMBERED PARAGRAPH.  For the purposes of this
  1  8 section, the actual value of the property upon which
  1  9 the value of the improvements shall be determined
  1 10 shall be the lower of either the amount listed on the
  1 11 assessment rolls in the assessment year in which the
  1 12 improvements are first begun or the price paid by the
  1 13 owner if the improvements were begun within three
  1 14 years of the date the property was purchased and the
  1 15 sale was a fair and reasonable exchange between a
  1 16 willing buyer and a willing seller, neither being
  1 17 under any compulsion to buy or sell and each being
  1 18 familiar with all the facts relating to the particular
  1 19 property.
  1 20    Sec.    .  APPLICABILITY.  This division applies to
  1 21 tax exemptions granted under chapter 404 for
  1 22 improvements to real property first begun on or after
  1 23 January 1, 1995."
  1 24    #2.  Title page, line 3, by inserting after the
  1 25 word "effective" the following:  "and applicability".
  1 26    #3.  By renumbering as necessary.  
  1 27 
  1 28 
  1 29                              
  1 30 GRUNDBERG of Polk
  1 31 HF 2466.201 76
  1 32 mk/jj
     
Text: H05307                            Text: H05309
Text: H05300 - H05399                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index
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