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House Amendment 8042

Amendment Text

PAG LIN
  1  1    Amend House File 2039 as follows:
  1  2    #1.  Page 1, by inserting after line 10 the
  1  3 following:
  1  4    "Sec. ___.  Section 403A.10, Code 1997, is amended
  1  5 to read as follows:
  1  6    403A.10  TAX EXEMPTION AND PAYMENTS IN LIEU OF
  1  7 TAXES.
  1  8    The property acquired or held pursuant to this
  1  9 chapter is declared to be public property used
  1 10 exclusively for essential city, or municipal public
  1 11 and governmental purposes and such this property is
  1 12 hereby declared to be exempt from all taxes and
  1 13 special assessments of the state or of any state
  1 14 public body.  In lieu of taxes on such this property a
  1 15 municipality together with any cooperating
  1 16 municipality or nonprofit housing corporation may
  1 17 agree to make payments to the state or a state public
  1 18 body, (including itself) the municipality, as it finds
  1 19 consistent with the maintenance of the low-rent
  1 20 character of housing projects and the achievement of
  1 21 the purposes of this chapter.
  1 22    Sec. ___.  Section 403A.27, Code 1997, is amended
  1 23 to read as follows:
  1 24    403A.27  PERCENTAGE OF RENT AS TAXES.
  1 25    Any provision of this chapter notwithstanding, no
  1 26 Except as to projects where the municipality, or the
  1 27 municipality and any cooperating municipality or
  1 28 nonprofit housing corporation, as entered into an
  1 29 agreement in lieu of taxes as provided in section
  1 30 403A.10, and except as to the use of dwelling units in
  1 31 existing structures leased from private owners, a
  1 32 housing project shall not be approved unless as a
  1 33 condition at least ten four percent but not more than
  1 34 six percent of all rents and supplemental rental aid
  1 35 shall be paid annually as taxes to the office of the
  1 36 treasurer in the respective county in which said the
  1 37 project is located, except as to the use of dwelling
  1 38 units in existing structures leased from private
  1 39 owners.
  1 40    Sec. ___.  Section 427.1, subsection 21, Code
  1 41 Supplement 1997, is amended to read as follows:
  1 42    21.  LOW-RENT HOUSING.  The property owned and
  1 43 operated by a nonprofit organization providing low-
  1 44 rent housing for persons who are elderly, lower-income
  1 45 families as defined in section 403A.2, and persons
  1 46 with physical and mental disabilities.  The exemption
  1 47 granted under the provisions of this subsection shall
  1 48 apply only until the terms of the original, refunding,
  1 49 or rehabilitation low-rent housing development
  1 50 mortgage, from any source, is paid in full or expires,
  2  1 subject to the provisions of subsection 14.
  2  2    Sec. ___.  This Act, being deemed of immediate
  2  3 importance, takes effect upon enactment."
  2  4    #2.  Title page, line 3, by inserting after the
  2  5 word "law" the following:  ", property tax exemption
  2  6 and payments in lieu of taxes for low-rent housing
  2  7 projects, and providing an effective date provision".  
  2  8 
  2  9 
  2 10                               
  2 11 CHAPMAN of Linn 
  2 12 HF 2039.301 77
  2 13 mg/cf/28
     

Text: H08041                            Text: H08043
Text: H08000 - H08099                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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