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PAG LIN
1 1 HOUSE FILE 212
1 2
1 3 AN ACT
1 4 RELATING TO THE TAXATION OF REAL PROPERTY USED IN THE
1 5 OPERATION OF A RACETRACK OR RACETRACK ENCLOSURE.
1 6
1 7 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 8
1 9 Section 1. Section 99D.2, subsection 8, Code 1997, is
1 10 amended to read as follows:
1 11 8. "RACETRACK ENCLOSURE" means the grandstand, clubhouse,
1 12 turf club or other areas of a licensed racetrack which a
1 13 person may enter only upon payment of an admission fee, or
1 14 upon payment by another, at any time, based upon the person's
1 15 admittance, or upon presentation of authorized credentials.
1 16 "Racetrack enclosure" also means any additional areas
1 17 designated by the commission.
1 18 Sec. 2. Section 99D.14, subsection 6, Code 1997, is
1 19 amended by striking the subsection and inserting in lieu
1 20 thereof the following:
1 21 6. Real property used in the operation of a racetrack or
1 22 racetrack enclosure which is exempt from property taxation
1 23 under another provision of the law, including being exempt
1 24 because it is owned by a city, county, state, or charitable or
1 25 nonprofit entity, may be subject to real property taxation by
1 26 any taxing district in which the real property used in the
1 27 operation of the racetrack or racetrack enclosure is located.
1 28 To subject such real property to taxation, the taxing
1 29 authority of the taxing district shall pass a resolution
1 30 imposing the tax and shall notify the county assessor,
1 31 director of revenue and finance, and the owner of record of
1 32 the real property by September 1 preceding the fiscal year in
1 33 which the real property taxes are due and payable. The
1 34 assessed value shall be determined and notice of the assessed
1 35 value shall be provided to the county auditor by the
2 1 department of revenue and finance by October 15 and the owner
2 2 may protest the assessed value to the state board of tax
2 3 review by December 1. Property taxes due as a result of this
2 4 subsection shall be paid to the county treasurer in the manner
2 5 and time as other property taxes. The county treasurer shall
2 6 remit the tax revenue to those taxing authorities imposing the
2 7 property tax under this subsection. Real property subject to
2 8 tax as provided in this subsection shall continue to be taxed
2 9 until such time as the taxing authority of the taxing district
2 10 repeals the resolution subjecting the property to taxation.
2 11 Notwithstanding section 99D.7, the department of revenue and
2 12 finance shall adopt rules to implement this subsection.
2 13 Sec. 3. Section 99F.1, subsection 15, Code 1997, is
2 14 amended to read as follows:
2 15 15. "RACETRACK ENCLOSURE" means the grandstand, clubhouse,
2 16 turf club, or other areas of a licensed racetrack which an
2 17 individual may enter only upon payment of an admission fee, or
2 18 upon payment by another, at any time, based upon the
2 19 individual's admittance, or upon presentation of authorized
2 20 credentials. "Racetrack enclosure" also means any additional
2 21 areas designated by the commission.
2 22
2 23
2 24
2 25 RON J. CORBETT
2 26 Speaker of the House
2 27
2 28
2 29
2 30 MARY E. KRAMER
2 31 President of the Senate
2 32
2 33 I hereby certify that this bill originated in the House and
2 34 is known as House File 212, Seventy-seventh General Assembly.
2 35
3 1
3 2
3 3 ELIZABETH ISAACSON
3 4 Chief Clerk of the House
3 5 Approved , 1997
3 6
3 7
3 8
3 9 TERRY E. BRANSTAD
3 10 Governor
3 11
Text: HF00211 Text: HF00213 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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