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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