Text: HF02609 Text: HF02611 Text: HF02600 - HF02699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 427.1, subsection 14, unnumbered
1 2 paragraph 2, Code Supplement 2001, is amended to read as
1 3 follows:
1 4 The assessor, in arriving at the valuation of any property
1 5 of the society or organization, shall take into consideration
1 6 any uses of the property not for the appropriate objects of
1 7 the organization and shall assess in the same manner as other
1 8 property, all or any portion of the property involved which is
1 9 leased or rented and is used regularly for commercial purposes
1 10 for a profit to a party or individual. If a portion of the
1 11 property is used regularly for commercial purposes, an
1 12 exemption shall not be allowed upon property so used and the
1 13 exemption granted shall be in the proportion of the value of
1 14 the property used solely for the appropriate objects of the
1 15 organization, to the entire value of the property. However,
1 16 the board of trustees or the board of directors of a hospital,
1 17 as defined in section 135B.1, may permit use of a portion of
1 18 the hospital for commercial purposes, and the hospital is
1 19 entitled to full exemption for that portion used for nonprofit
1 20 health-related purposes, upon compliance with the filing
1 21 requirements of this subsection. A religious institution may
1 22 permit use of a portion of the land and buildings of the
1 23 religious institution for commercial purposes which only
1 24 involve the lease of space for a child care center, as defined
1 25 in section 237A.1, and the institution is entitled to the full
1 26 exemption for the leased space if the amount of the lease
1 27 payments is less than one thousand dollars per month and the
1 28 institution complies with the filing requirements of this
1 29 subsection.
1 30 Sec. 2. Section 25B.7, relating to the state reimbursement
1 31 of lost property taxes due to a property tax exemption, does
1 32 not apply to this Act.
1 33 Sec. 3. APPLICABILITY DATE. This Act applies to claims
1 34 filed or on file on or after January 1, 2003.
1 35 EXPLANATION
2 1 Present law allows a property tax exemption for religious
2 2 institutions for their property that is used for purposes of
2 3 the institution and not for commercial purposes unrelated to
2 4 those purposes. This bill allows the leasing by a religious
2 5 institution of space to a commercial child care facility or
2 6 preschool if the lease payments are less than $1,000 per
2 7 month.
2 8 The bill applies to exemption claims filed or presently on
2 9 file on or after January 1, 2003.
2 10 LSB 6165HH 79
2 11 mg/pj/5
Text: HF02609 Text: HF02611 Text: HF02600 - HF02699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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