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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