Text: SF00082 Text: SF00084 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 SENATE FILE 83
1 2
1 3 AN ACT
1 4 RELATING TO PROPERTY TAXATION OF PROPERTY GIVEN TO THE
1 5 STATE OR A POLITICAL SUBDIVISION UPON WHICH A LIFE
1 6 ESTATE IS RETAINED.
1 7
1 8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 9
1 10 Section 1. NEW SECTION. 427.2A TAXATION OF LIFE ESTATE
1 11 PROPERTY.
1 12 Real estate donated to the state or a political subdivision
1 13 of the state or any agency of the state or political
1 14 subdivision, for which the donor retains a life estate, or
1 15 provides for another to possess a life estate shall continue
1 16 to be subject to property taxation and special assessment to
1 17 the same extent as the property was so subject during the
1 18 fiscal year in which the donation was made. The real property
1 19 shall continue to be taxed until the fiscal year following the
1 20 fiscal year during which the life estate terminates. Upon
1 21 termination of the life estate, the real estate shall be
1 22 subject to taxation as otherwise provided by law.
1 23 This section applies to property donated on or after July
1 24 1, 1992, for purposes of property taxes or special assessments
1 25 due and payable in fiscal years beginning on or after July 1,
1 26 1997.
1 27 Nothing in this section allows or requires the imposition
1 28 and collection of property taxes or special assessments on
1 29 donated property payable in any fiscal year during the period
1 30 beginning July 1, 1992, and ending June 30, 1997, and nothing
1 31 in this section requires the payment of refunds of property
1 32 taxes or special assessments paid on donated property in any
1 33 fiscal year during the period beginning July 1, 1992, and
1 34 ending June 30, 1997.
1 35
2 1
2 2
2 3 MARY E. KRAMER
2 4 President of the Senate
2 5
2 6
2 7
2 8 RON J. CORBETT
2 9 Speaker of the House
2 10
2 11 I hereby certify that this bill originated in the Senate and
2 12 is known as Senate File 83, Seventy-seventh General Assembly.
2 13
2 14
2 15
2 16 MARY PAT GUNDERSON
2 17 Secretary of the Senate
2 18 Approved , 1997
2 19
2 20
2 21
2 22 TERRY E. BRANSTAD
2 23 Governor
Text: SF00082 Text: SF00084 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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