Text: SF00466 Text: SF00468 Text: SF00400 - SF00499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 427B.4, unnumbered paragraph 1, Code
1 2 1999, is amended to read as follows:
1 3 An application shall be filed for each project resulting in
1 4 actual value added for which an exemption is claimed. The
1 5 application for exemption shall be filed by the owner of the
1 6 property with the local assessor by February 1 of the
1 7 assessment year in which the value added is first assessed for
1 8 taxation, unless, upon the request of the owner at any time,
1 9 the city council or board of supervisors provides by
1 10 resolution that the owner may file an application by February
1 11 1 of any other assessment year selected by the city council or
1 12 board of supervisors. Applications for exemption shall be
1 13 made on forms prescribed by the director of revenue and shall
1 14 contain information pertaining to the nature of the
1 15 improvement, its cost, and other information deemed necessary
1 16 by the director of revenue.
1 17 Sec. 2. RETROACTIVE APPLICABILITY. This Act applies
1 18 retroactively to applications for a partial property tax
1 19 exemption for industrial real estate filed on or after January
1 20 1, 1997.
1 21 Sec. 3. EFFECTIVE DATE. This Act, being deemed of
1 22 immediate importance, takes effect upon enactment.
1 23 EXPLANATION
1 24 This bill changes the law relating to the filing of an
1 25 application to a city council or board of supervisors for a
1 26 partial property tax exemption for industrial real estate
1 27 under the city or county ordinance authorizing the partial
1 28 exemption. The bill allows the city council or board of
1 29 supervisors to select, by resolution, the assessment year
1 30 during which the application for partial exemption may be
1 31 filed. By operation of law, this change also applies to
1 32 exemptions for improvements to owner-operated cattle
1 33 facilities in Code section 427B.7 and new construction of
1 34 speculative shell buildings pursuant to section 427.1.
1 35 The bill takes effect upon enactment and applies
2 1 retroactively to applications for partial exemption filed on
2 2 or after January 1, 1997.
2 3 LSB 2456XS 78
2 4 sc/gg/8.1
Text: SF00466 Text: SF00468 Text: SF00400 - SF00499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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