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House Journal: Page 2014: Thursday, April 27, 1995

Page 23
 1   specified in subsection 2 or 3, whichever is
 2   applicable, for the applicable assessment year
 3   beginning with the assessment year following the
 4   calendar year in which any of those loans, advances,
 5   bonds, or other indebtedness are refinanced or
 6   refunded after June 30, 1995.
 7     7.  For the purpose of dividing taxes under section
 8   260E.4 or 260F.4, the employer's or business's
 9   valuation of property defined in section 427A.1,
10   subsection 1, paragraphs "e" and "j", and used to fund
11   a new jobs training project which project's first
12   written agreement providing for a division of taxes as
13   provided in section 403.19 is approved on or before
14   June 30, 1995, shall be limited to thirty percent of
15   the net acquisition cost of the property.  An
16   employer's or business's taxable property used to fund
17   a new jobs training project shall not be valued
18   pursuant to subsection 2 or 3, whichever is
19   applicable, until the assessment year following the
20   calendar year in which the certificates or other
21   funding obligations have been retired or escrowed.
22   The taxpayer's valuation for such property shall then
23   be the valuation specified in subsection 1 for the
24   applicable assessment year.  If the certificates
25   issued, or other funding obligations incurred, between
26   January 1, 1982, and June 30, 1995, are refinanced or
27   refunded after June 30, 1995, the valuation of such
28   property shall then be the valuation specified in
29   subsection 2 or 3, whichever is applicable, for the
30   applicable assessment year beginning with the
31   assessment year following the calendar year in which
32   those certificates or other funding obligations are
33   refinanced or refunded after June 30, 1995.
34     Sec. 30.  NEW SECTION.  427B.18  REPLACEMENT.
35     Beginning with the fiscal year beginning July 1,
36   1996, each county treasurer shall be paid from the
37   industrial machinery, equipment and computers
38   replacement fund an amount equal to the amount of the
39   industrial machinery, equipment and computers tax
40   replacement claim, as calculated in section 427B.19.
41     Sec. 31.  NEW SECTION.  427B.19  ASSESSOR AND
42   COUNTY AUDITOR DUTIES.
43     1.  On or before July 1 of each fiscal year, the
44   assessor shall determine the total assessed value of
45   the property assessed under section 427B.17 for taxes
46   payable in that fiscal year and the total assessed
47   value of such property assessed as of January 1, 1994,
48   and shall report the valuations to the county auditor.
49     2.  On or before July 1 of each fiscal year, the
50   assessor shall determine the valuation of all

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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URL: /DOCS/GA/76GA/Session.1/HJournal/02000/02014.html
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