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House Journal: Page 564: Monday, February 27, 1995

 6   property shall then be the valuation specified in
 7   subsection 1 for the applicable assessment year.  If
 8   the loans, advances, or bonds issued, or indebtedness
 9   incurred between January 1, 1982, and June 30, 1995,
10   are refinanced or refunded after June 30, 1995, the
11   valuation of such property shall then be the valuation
12   specified in subsection 1 for the applicable
13   assessment year beginning with the assessment year
14   after the calendar year in which any of those loans,
15   advances, bonds, or other indebtedness are refinanced
16   or refunded after June 30, 1995.
17     5.  For the purpose of dividing taxes under section
18   260E.4 or 260F.4, the employer's or business's
19   valuation of property defined in section 427A.1,
20   subsection 1, paragraphs "e" and "j", and used to fund
21   a new jobs training project which project's first
22   written agreement providing for a division of taxes as
23   provided in section 403.19, is approved on or before
24   June 30, 1995, shall be limited to thirty percent of
25   the net acquisition cost of the property.  An
26   employer's or business's taxable property used to fund
27   a new jobs training project shall not be valued
28   pursuant to subsection 1 until the assessment year
29   following the calendar year in which the certificates
30   or other funding obligations have been retired or
31   escrowed.  The taxpayer's valuation for such property
32   shall then be the valuation specified in subsection 1
33   for the applicable assessment year.  This subsection
34   shall not apply to the refunding of certificates or
35   refinancing of other obligations issued between
36   January 1, 1982, and June 30, 1995.
37     Sec. 17.  NEW SECTION.  427B.18  ASSESSOR AND
38   COUNTY AUDITOR DUTIES.
39     1.  On or before July 1 of each year, the assessor
40   shall determine the taxpayer's valuation of the
41   property specified in section 427B.17 for that year
42   and the valuation of the property if the property were
43   valued, for assessment purposes, at thirty percent of
44   net acquisition cost and shall report the valuations
45   to the county auditor.
46     2.  On or before July 1, 1996, and on or before
47   July 1 of each subsequent year, the county auditor
48   shall prepare a statement listing for each taxing
49   district in the county:
50     a.  Beginning with the assessment year beginning
Page  10
 1   January 1, 1995, the difference between the assessed
 2   valuation of property defined in section 427A.1,
 3   subsection 1, paragraphs "e" and "j", and assessed
 4   pursuant to section 427B.17 and the valuation of the
 5   property if the property were valued, for assessment
 6   purposes, at thirty percent of net acquisition cost.

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

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