Text: HF00534                           Text: HF00536
Text: HF00500 - HF00599                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 535

Partial Bill History

Bill Introduced: H.J. 567
Complete Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 440.1, Code 1999, is amended to read as
  1  2 follows:
  1  3    440.1  ASSESSMENT OF OMITTED PROPERTY.
  1  4    When the director of revenue and finance is vested with the
  1  5 power and duty to assess property and an assessment has, for
  1  6 any reason, been omitted, the director shall proceed to assess
  1  7 the property for each of the omitted years at any time within
  1  8 two years from the date at which such assessment should have
  1  9 been made.  The omitted assessment shall only may apply to not
  1 10 more than the assessment year in which the omitted assessment
  1 11 is made and the four prior assessment years year.  Chapter 429
  1 12 shall apply to assessments of omitted property.
  1 13    Sec. 2.  Section 440.5, Code 1999, is amended to read as
  1 14 follows:
  1 15    440.5  PROCEDURE – PENALTY.
  1 16    If it is made to appear that said the property is
  1 17 assessable by the director of revenue and finance as omitted
  1 18 property, the director shall proceed in the manner in which
  1 19 the director would have proceeded had the assessment not been
  1 20 omitted, except that the director shall find the value of such
  1 21 the omitted property for each year during which it has been
  1 22 omitted but for not more than the two previous assessment
  1 23 years and shall add ten percent to each yearly value as a
  1 24 penalty.
  1 25    Sec. 3.  Section 443.12, Code 1999, is amended to read as
  1 26 follows:
  1 27    443.12  CORRECTIONS BY TREASURER.
  1 28    When property subject to taxation is withheld, overlooked,
  1 29 or from any other cause is not listed and assessed, the county
  1 30 treasurer shall, when apprised thereof, at any time within
  1 31 five two years from the date at which such assessment should
  1 32 have been made, demand of the person, firm, corporation, or
  1 33 other party by whom the same should have been listed, or to
  1 34 whom it should have been assessed, or of the administrator
  1 35 thereof, the amount the property should have been taxed in
  2  1 each year the same was so withheld or overlooked and not
  2  2 listed and assessed, together with six percent interest
  2  3 thereon from the time the taxes would have become due and
  2  4 payable had such property been listed and assessed.
  2  5    Sec. 4.  Section 443.15, Code 1999, is amended to read as
  2  6 follows:
  2  7    443.15  TIME LIMIT.
  2  8    Such The assessment shall be made within four two years
  2  9 after the tax list shall have been delivered to the treasurer
  2 10 for collection, and not afterwards, if the property is then
  2 11 owned by the person who should have paid the tax.
  2 12    Sec. 5.  Section 443.17, Code 1999, is amended to read as
  2 13 follows:
  2 14    443.17  PRESUMPTION OF FIVE-YEAR TWO-YEAR OWNERSHIP.
  2 15    In any action or proceeding, now pending or hereafter
  2 16 brought, to recover taxes upon property not listed or assessed
  2 17 for taxation during the lifetime of any decedent, it shall be
  2 18 presumed that any property, any evidence of ownership of
  2 19 property, and any evidence of a promise to pay, owned by a
  2 20 decedent at the date of the decedent's death, had been
  2 21 acquired and owned by such decedent more than five two years
  2 22 before the date of the decedent's death; and the burden of
  2 23 proving that any such property had been acquired by such
  2 24 decedent less than five two years before the date of the
  2 25 decedent's death shall be upon the heirs, legatees, and legal
  2 26 representatives of any such decedent.
  2 27    Sec. 6.  Section 445.60, Code 1999, is amended to read as
  2 28 follows:
  2 29    445.60  REFUNDING ERRONEOUS TAX.
  2 30    The board of supervisors shall direct the county treasurer
  2 31 to refund to the taxpayer any tax or portion of a tax found to
  2 32 have been erroneously or illegally paid, with all interest,
  2 33 fees, and costs actually paid.  A refund shall not be ordered
  2 34 or made unless a claim for refund is presented to the board
  2 35 within one year two years of the date the tax was due, or if
  3  1 appealed to the board of review, the state board of tax
  3  2 review, or district court, within one year two years of the
  3  3 final decision.
  3  4    Sec. 7.  This Act, being deemed of immediate importance,
  3  5 takes effect upon enactment.  
  3  6                           EXPLANATION
  3  7    The bill limits the time for which the department of
  3  8 revenue and finance and local officials may assess omitted
  3  9 property to two years.  Present law allows the department and
  3 10 local officials to go back to up to five years to assess and
  3 11 collect taxes that would have been levied if the omitted
  3 12 property had been assessed.
  3 13    The bill also permits a property taxpayer to receive a
  3 14 refund for erroneous property taxes paid if applied for within
  3 15 two years from the date the tax was due or, if appealed,
  3 16 within two years of the final decision.  Present law limits
  3 17 the time to one year.
  3 18    The bill is effective upon enactment.  
  3 19 LSB 2244HV 78
  3 20 mg/sc/14

Text: HF00534                           Text: HF00536
Text: HF00500 - HF00599                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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