Text: HF02041 Text: HF02043 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 404.4, unnumbered paragraph 2, Code 1 2 Supplement 2001, is amended to read as follows: 1 3 An application shall be filed for each new exemption 1 4 claimed. The first application for an exemption shall be 1 5 filed by the owner of the property with the governing body of 1 6 the city or county in which the property is located by 1 7 February 1 of the assessment year for which the exemption is 1 8 first claimed, but not later than the year in which all 1 9 improvements included in the project are first assessed for 1 10 taxation, unless. However, upon the request of the owner at 1 11 any time, the governing body of the city or countyprovides1 12 may provide by resolution that the owner may file an 1 13 application by February 1 of any other assessment year 1 14 selected by the governing body in which case the exemption is 1 15 allowed for the number of years remaining in the exemption 1 16 schedule selected unless the governing body of the city or 1 17 county provides by resolution that the exemption be allowed 1 18 for the full number of years of the exemption schedule 1 19 selected. The application shall contain, but not be limited 1 20 to, the following information: The nature of the improvement, 1 21 its cost, the estimated or actual date of completion, the 1 22 tenants that occupied the owner's building on the date the 1 23 city or county adopted the resolution referred to in section 1 24 404.2, subsection 1, and which exemption in section 404.3 or 1 25 in the different schedule, if one has been adopted, will be 1 26 elected. 1 27 Sec. 2. APPLICABILITY. This Act applies retroactively to 1 28 improvements first assessed for taxation in assessment years 1 29 beginning on or after January 1, 2002. 1 30 EXPLANATION 1 31 This bill allows the governing body of a city or county to 1 32 grant an owner of property an urban revitalization tax 1 33 exemption for the full number of years under the city or 1 34 county schedule if the governing body has allowed the owner to 1 35 file for exemption in any other year than the year the 2 1 improvements subject to exemption are first assessed for 2 2 taxation. 2 3 The bill applies retroactively to improvements first 2 4 assessed for taxation in assessment years beginning on or 2 5 after January 1, 2002. 2 6 LSB 5294HH 79 2 7 sc/pj/5
Text: HF02041 Text: HF02043 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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