House Journal: Page 1863: Wednesday, April 26, 2000
17 method to be used to determine for which fiscal year
18 the tax credits are approved."
19 10. Page 7, line 33, by inserting after the word
20 "affairs" the following: ", in consultation with the
21 department of economic development,".
22 11. Page 8, line 7, by inserting after the word
23 "unused" the following: "and eligible for refund".
24 12. Page 11, line 9, by striking the word "is"
25 and inserting the following: "shall be refunded as
26 provided in section 404A.4, subsection 3."
27 13. Page 11, by striking lines 10 and 11.
28 14. Page 11, by striking lines 19 through 23.
29 15. Page 12, line 21, by striking the figure "9"
30 and inserting the following: "8A".
31 16. Page 16, line 4, by striking the figure
32 "422.11D" and inserting the following: "422.11E".
33 17. Page 17, by striking lines 9 through 15 and
34 inserting the following: "tax liability shall be
35 refunded as provided in section 404A.4, subsection 3."
36 18. Page 17, by inserting after line 17 the
37 following:
38 "Sec. 100. Section 427.1, Code Supplement 1999, is
39 amended by adding the following new subsection:
40 NEW SUBSECTION. 31. BARN PRESERVATION. The
41 increase in assessed value added to a farm structure
42 constructed prior to 1937 as a result of improvements
43 made to the farm structure for purposes of preserving
44 the integrity of the internal and external features of
45 the structure as a barn is exempt from taxation. To
46 be eligible for the exemption, the structure must have
47 been first placed in service as a barn prior to 1937.
48 The exemption shall apply to the assessment year
49 beginning after the completion of the improvements to
50 preserve the structure as a barn.
Page 3
1 For purposes of this subsection, "barn" means an
2 agricultural structure, in whatever shape or design,
3 which is used for the storage of farm products or feed
4 or for the housing of farm animals, poultry, or farm
5 equipment.
6 Application for this exemption shall be filed with
7 the assessing authority not later than February 1 of
8 the first year for which the exemption is requested,
9 on forms provided by the department of revenue and
10 finance. The application shall describe and locate
11 the specific structure for which the added value is
12 requested to be exempt.
13 Once the exemption is granted, the exemption shall
14 continue to be granted for subsequent assessment years
15 without further filing of applications as long as the
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