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Text: S05665                            Text: S05667
Text: S05600 - S05699                   Text: S Index
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Senate Amendment 5666

Amendment Text

PAG LIN
  1  1    Amend Senate File 2464 as follows:
  1  2    #1.  Page 23, by inserting after line 23 the
  1  3 following:  
  1  4                      "DIVISION 401
  1  5    Sec.    .  NEW SECTION.  404A.1  HOUSING
  1  6 DEVELOPMENT – TAX STATUS – LIMITATION.
  1  7    1.  In a county with a population of less than
  1  8 twenty thousand, property acquired and subdivided for
  1  9 development of housing shall continue to be assessed
  1 10 for taxation in the manner that it was prior to the
  1 11 acquisition for housing until a lot is sold for
  1 12 construction or occupancy of housing or five years
  1 13 from the date of subdivision, whichever is shorter.
  1 14 Upon the sale or the expiration of the five-year
  1 15 period, the property shall be assessed for taxation as
  1 16 residential or commercial multifamily property,
  1 17 whichever is applicable.
  1 18    2.  In a county with a population of twenty
  1 19 thousand or more, property acquired and subdivided for
  1 20 development of housing shall continue to be assessed
  1 21 for taxation in the manner that it was prior to the
  1 22 acquisition for housing until a lot is sold for
  1 23 construction or occupancy of housing or three years
  1 24 from the date of subdivision, whichever is shorter.
  1 25 Upon the sale or the expiration of the three-year
  1 26 period, the property shall be assessed for taxation as
  1 27 residential or commercial multifamily property,
  1 28 whichever is applicable."
  1 29    #2.  Title page, line 2, by inserting after the
  1 30 word "financing" the following:  ", providing for the
  1 31 assessment of certain property for tax purposes,".
  1 32    #3.  By renumbering as necessary.  
  1 33 
  1 34 
  1 35                               
  1 36 ALLEN BORLAUG
  1 37 SF 2464.303 76
  1 38 mk/cf
     
Text: S05665                            Text: S05667
Text: S05600 - S05699                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index
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