House Journal: Page 1403: Thursday, April 11, 2002
21 "Sec. . Section 425.15, Code 2001, is amended
22 to read as follows:
23 425.15 DISABLED VETERAN TAX CREDIT.
24 If the owner of a homestead allowed a credit under
25 this chapter is a veteran of any of the military
26 forces of the United States, who acquired the
27 homestead under 38 U.S.C. § 21.801, 21.802, or 38
28 U.S.C. § 2101, 2102, the credit allowed on the
29 homestead from the homestead credit fund shall be the
30 entire amount of the tax levied on the homestead. The
31 credit allowed shall be continued to the estate of a
32 veteran who is deceased or the surviving spouse and
33 any child, as defined in section 234.1, who are the
34 beneficiaries of a deceased veteran, so long as the
35 surviving spouse remains unmarried. This section is
36 not applicable to the holder of title to any homestead
37 whose annual income, together with that of the
38 titleholder's spouse, if any, for the last preceding
39 twelve-month income tax accounting period exceeds
40 twenty-five thirty-five thousand dollars. For the
41 purpose of this section "income" means taxable income
42 for federal income tax purposes plus income from
43 securities of state and other political subdivisions
44 exempt from federal income tax. A veteran or a
45 beneficiary of a veteran who elects to secure the
46 credit provided in this section is not eligible for
47 any other real property tax exemption provided by law
48 for veterans of military service. If a veteran
49 acquires a different homestead, the credit allowed
50 under this section may be claimed on the new homestead
Page 2
1 unless the veteran fails to meet the other
2 requirements of this section."
3 5. Page 18, by inserting after line 2 the
4 following:
5 "Sec. . Section 427.1, subsection 2, Code
6 Supplement 2001, is amended by adding the following
7 new unnumbered paragraph:
8 NEW UNNUMBERED PARAGRAPH. The operation of bingo
9 games on property of a school corporation shall not
10 adversely affect the exemption of that property under
11 this subsection if all proceeds, in excess of
12 expenses, are used for the legitimate purposes of the
13 school corporation."
14 6. Page 18, by inserting after line 12 the
15 following:
16 "Sec. . Section 427.1, subsection 8, Code
17 Supplement 2001, is amended by adding the following
18 new unnumbered paragraph:
19 NEW UNNUMBERED PARAGRAPH. The operation of bingo
© 2002 Cornell College and
League of Women Voters of Iowa
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