Text: S05665 Text: S05667 Text: S05600 - S05699 Text: S Index Bills and Amendments: General Index Bill History: General Index
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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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