House Journal: Page 1258: Wednesday, April 5, 2000
13 charged for the previous two years for that unit that
14 is paid as property taxes."
15 2. Page 2, by inserting after line 19 the
16 following:
17 "Sec. ___. NEW SECTION. 499B.21 REDUCTION IN
18 GROSS RENT - PENALTY.
19 1. In the case of an existing structure that is
20 converted to a horizontal property regime after the
21 effective date of this Act, any reduction in property
22 taxes levied on an apartment resulting from such
23 conversion shall be passed on to the tenant by means
24 of a reduction in gross rent. The reduction in gross
25 rent required under this subsection shall only apply
26 to the first fiscal year in which the reduction in
27 property tax first occurs. The amount of the
28 reduction in gross rent shall result in the percentage
29 of gross rent paid in property taxes to be equal to
30 the maximum property tax percentage specified pursuant
31 to section 499B.4, subsection 10.
32 2. The landlord shall provide notice to the tenant
33 at the beginning of the fiscal year for which a
34 reduction in rent is to occur. The notice shall state
35 that the reduction in rent is due to the reduction in
36 property taxes payable by the landlord as a result of
37 the conversion of the property to a horizontal
38 property regime. The notice shall also state that the
39 law requires this reduction in rent for only one
40 fiscal year.
41 3. If gross rent is not reduced in violation of
42 this section, the excess gross rent shall be returned,
43 along with interest at the rate of two percent per
44 month, to the renter or to the city or county building
45 inspector, as appropriate, if the renter is
46 unavailable. a suit for return of excess gross rent
47 may be brought by the renter or the appropriate local
48 building inspector on behalf of the renter."
Amendment H-8731 lost.
Drake of Pottawattamie moved that the bill be read a last time
now and placed upon its passage which motion prevailed and the bill
was read a last time.
On the question "Shall the bill pass?" (S.F. 2426)
The ayes were, 90:
|
Alons | Arnold | Baudler | Blodgett |
|
Boal | Boddicker | Boggess | Bradley |
|
Brauns | Brunkhorst | Bukta | Carroll |
|
|
© 2000 Cornell College and
League of Women Voters of Iowa
Comments about this site or page?
hjourn@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Mon May 1 13:35:00 CDT 2000
URL: /DOCS/GA/78GA/Session.2/HJournal/01200/01258.html
jhf