Text: HSB00757 Text: HSB00759 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 427.1, subsection 2, Code Supplement 1 2 1999, is amended to read as follows: 1 3 2. a. MUNICIPAL AND MILITARY PROPERTY. The property of a 1 4 county, township, city, school corporation, levee district, or 1 5 drainage districtor military company of the state of Iowa, 1 6 when devoted to public use and not held for pecuniary profit, 1 7 except property of a municipally owned electric utility held 1 8 under joint ownership and property of an electric power 1 9 facility financed under chapter 28F which shall be subject to 1 10 taxation under chapter 437A and facilities of a municipal 1 11 utility that are used for the provision of local exchange 1 12 services pursuant to chapter 476, but only to the extent such 1 13 facilities are used to provide such services, which shall be 1 14 subject to taxation under chapter 433, except that section 1 15 433.11 shall not apply. The exemption for property owned by a 1 16 city or county also applies to property which is operated by a 1 17 city or county as a library, art gallery or museum, 1 18 conservatory, botanical garden or display, observatory or 1 19 science museum, or as a location for holding athletic 1 20 contests, sports or entertainment events, expositions, 1 21 meetings or conventions, or leased from the city or county for 1 22 any such purposes, or leased from the city or county by the 1 23 Iowa national guard when devoted for public use and not for 1 24 pecuniary profit. Food and beverages may be served at the 1 25 events or locations without affecting the exemptions, provided 1 26 the city has approved the serving of food and beverages on the 1 27 property if the property is owned by the city or the county 1 28 has approved the serving of food and beverages on the property 1 29 if the property is owned by the county. 1 30 b. The property of the Iowa national guard, including 1 31 property leased by or for the benefit of the Iowa national 1 32 guard, when devoted to public use and not held for pecuniary 1 33 profit. If property leased by or for the benefit of the Iowa 1 34 national guard is part of a larger piece of property that is 1 35 assessed as a single unit, the exemption in this paragraph 2 1 applies to that portion of the larger piece of property which 2 2 is primarily used by the Iowa national guard for a public 2 3 purpose and not for pecuniary profit. 2 4 EXPLANATION 2 5 The bill provides that property of the Iowa national guard, 2 6 including property leased by or for the benefit of the Iowa 2 7 national guard, is exempt from property tax when it is devoted 2 8 for public use and not for pecuniary gain. Property leased to 2 9 the Iowa national guard which is exempt includes property 2 10 leased from a city or county. 2 11 LSB 7045HC 78 2 12 mg/cls/14
Text: HSB00757 Text: HSB00759 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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