Text: SF00240 Text: SF00242 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 426A.11, Code 2003, is amended by 1 2 adding the following new subsection: 1 3 NEW SUBSECTION. 2A. The property, not to exceed one 1 4 thousand eight hundred fifty-two dollars in taxable value of a 1 5 resident currently serving in the armed forces of the United 1 6 States. 1 7 Sec. 2. Section 426A.13, unnumbered paragraphs 1 through 1 8 3, Code 2003, are amended to read as follows: 1 9 A person named in section 426A.11, who is a resident of and 1 10 domiciled in the state of Iowa, shall receive a reduction 1 11 equal to the exemption, to be made from any property owned by 1 12 the person or owned by a family farm corporation of which the 1 13 person is a shareholder and who occupies the property and so 1 14 designated by proceeding as provided in the section. To be 1 15 eligible to receive the exemption the person claiming it shall 1 16 have recorded in the office of the county recorder of the 1 17 county in which is located the property designated for the 1 18 exemption, evidence of property ownership by that person or 1 19 the family farm corporation of which the person is a 1 20 shareholder and the military certificate of satisfactory 1 21 service, order transferring to inactive status, reserve, 1 22 retirement, order of separation from service, honorable 1 23 discharge or a copy of any of these documents of the person 1 24 claiming or through whom is claimed the exemption. In the 1 25 case of a person claiming the exemption for currently serving 1 26 in the armed forces of the United States, the person shall 1 27 file a statement signed by the person's immediate commanding 1 28 officer. 1 29 The person shall file with the appropriate assessor on 1 30 forms obtained from the assessor the claim for exemption for 1 31 the year for which the person is first claiming the exemption. 1 32 The claim shall be filed not later than July 1 of the year for 1 33 which the person is claiming the exemption. The claim shall 1 34 set out the fact that the person is a resident of and 1 35 domiciled in the state of Iowa, and a person within the terms 2 1 of section 426A.11, and shall give the volume and page on 2 2 which the certificate of satisfactory service, order of 2 3 separation, retirement, furlough to reserve, inactive status, 2 4 or honorable discharge or certified copy thereof is recorded 2 5 in the office of the county recorder, and may include the 2 6 designation of the property from which the exemption is to be 2 7 made, and shall further state that the claimant is the 2 8 equitable or legal owner of the property designated or if the 2 9 property is owned by a family farm corporation, that the 2 10 person is a shareholder of that corporation and that the 2 11 person occupies the property. In the case of a person 2 12 claiming the exemption for currently serving in the armed 2 13 forces of the United States, the person shall file a statement 2 14 signed by the person's immediate commanding officer. 2 15 Upon the filing and allowance of the claim, the claim shall 2 16 be allowed to that person for successive years without further 2 17 filing. However, in the case of a person currently serving in 2 18 the armed forces of the United States, such person shall file 2 19 each year to be eligible to obtain the exemption. Provided, 2 20 that notwithstanding the filing or having on file a claim for 2 21 exemption, the person or person's spouse is the legal or 2 22 equitable owner of the property on July 1 of the year for 2 23 which the claim is allowed. When the property is sold or 2 24 transferred or the person wishes to designate different 2 25 property for the exemption, a person who wishes to receive the 2 26 exemption shall refile for the exemption. A person who sells 2 27 or transfers property which is designated for the exemption or 2 28 the personal representative of a deceased person who owned 2 29 such property shall provide written notice to the assessor 2 30 that the property is no longer legally or equitably owned by 2 31 the former claimant. 2 32 EXPLANATION 2 33 This bill expands the military service tax credit to 2 34 include those currently serving in the armed forces of the 2 35 United States. When applying to claim the credit, the person 3 1 must file a statement signed by the person's immediate 3 2 commanding officer. The person must file each year for the 3 3 credit while currently serving in the armed forces. 3 4 LSB 2573SS 80 3 5 sc/cf/24
Text: SF00240 Text: SF00242 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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