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House Journal: Page 918: Wednesday, March 22, 1995

24   employer's or business's taxable property used to fund
25   a new jobs training project shall not be valued
26   pursuant to subsection 1 until the assessment year
27   following the calendar year in which the certificates
28   or other funding obligations have been retired or
29   escrowed.  The taxpayer's valuation for such property
30   shall then be the valuation specified in subsection 1
31   for the applicable assessment year.  If the
32   certificates issued, or other funding obligations
33   incurred, between January 1, 1982, and June 30, 1995,
34   are refinanced or refunded after June 30, 1995, the
35   valuation of such property shall then be the valuation
36   specified in subsection 1 for the applicable
37   assessment year beginning with the assessment year
38   following the calendar year in which those
39   certificates or other funding obligations are
40   refinanced or refunded after June 30, 1995.
41     Sec. ___.  NEW SECTION.  427B.18  ASSESSOR AND
42   COUNTY AUDITOR DUTIES.
43     1.  On or before July 1 of each year, the assessor
44   shall determine the taxpayer's valuation of the
45   property specified in section 427B.17 for that year
46   and the valuation of the property if the property were
47   valued, for assessment purposes, at thirty percent of
48   net acquisition cost and shall report the valuations
49   to the county auditor.
50     2.  On or before July 1, 1996, and on or before

Page   7

 1   July 1 of each subsequent year, the county auditor
 2   shall prepare a statement listing for each taxing
 3   district in the county:
 4     a.  Beginning with the assessment year beginning
 5   January 1, 1995, the difference between the assessed
 6   valuation of property defined in section 427A.1,
 7   subsection 1, paragraphs "e" and "j", and assessed
 8   pursuant to section 427B.17 and the valuation of the
 9   property if the property were valued, for assessment
10   purposes, at thirty percent of net acquisition cost.
11     b.  The tax levy rate for each taxing district
12   levied against assessments made as of January 1 of the
13   previous year.
14     c.  The industrial machinery, equipment and
15   computers tax replacement claim for each taxing
16   district, which is equal to the amount determined
17   pursuant to paragraph "a", multiplied by the tax rate
18   specified in paragraph "b".
19     3.  The county auditor shall certify and forward
20   one copy of the statement to the department of revenue
21   and finance not later than July 1 of each year.
22     Sec. ___.  NEW SECTION.  427B.19  REPLACEMENT.
23     Each county treasurer shall be paid an amount equal
24   to the following percentages of the industrial

Iowa General Assembly

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

© 1995 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Sun Jan 14 21:05:02 CST 1996
URL: /DOCS/GA/76GA/Session.1/HJournal/00900/00918.html
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