House File 478 H-1451 Amend the amendment, H-1445, to the Senate amendment, 1 H-1438, to House File 478, as amended, passed, and reprinted by 2 the House, as follows: 3 1. Page 1, after line 4 by inserting: 4 < Sec. ___. Section 427.1, subsection 21A, Code 2017, is 5 amended to read as follows: 6 21A. Dwelling unit property owned by community housing 7 development organization. 8 a. Dwelling unit property owned and managed by a community 9 housing development organization, as recognized by the state 10 of Iowa and the federal government pursuant to criteria 11 for community housing development organization designation 12 contained in the HOME program of the federal National 13 Affordable Housing Act of 1990, if the organization is also a 14 nonprofit organization exempt from federal income tax under 15 section 501(c)(3) of the Internal Revenue Code and owns and 16 manages more than one hundred fifty dwelling units that are 17 located in a city with a population of more than one hundred 18 ten thousand. 19 b. For assessment years beginning on or after January 20 1, 2018, dwelling unit property that is constructed or 21 substantially rehabilitated on or after July 1, 2017, is 22 eligible for the exemption under this subsection if such 23 property is owned, managed, or controlled by a community 24 housing development organization that is a nonprofit 25 organization exempt from federal income tax under section 26 501(c)(3) of the Internal Revenue Code, that meets the federal 27 HOME program community housing development organization 28 designation criteria, and that owns and manages more than one 29 hundred fifty dwelling units. The exemption authorized under 30 this paragraph shall be allowed for each eligible property 31 unless specifically disapproved by resolution of the city 32 council for property located in a city or by resolution of the 33 board of supervisors for property located in the unincorporated 34 area of a county. 35 -1- H1445.2695 (2) 87 md/jh 1/ 2 #1.

c. For the 2005 and 2006 assessment years beginning January 1 1, 2005, and January 1, 2006 , an application is not required 2 to be filed to receive the exemption. For the assessment year 3 beginning January 1, 2007 , and subsequent assessment years, 4 an application for exemption must be filed with the assessing 5 authority not later than February 1 of the assessment year for 6 which the exemption is sought. Upon the filing and allowance 7 of the claim, the claim shall be allowed on the property for 8 successive years without further filing as long as the property 9 continues to qualify for the exemption. > 10 2. Page 4, before line 8 by inserting: 11 < ___. Page 17, after line 30 by inserting: 12 < Sec. ___. IMPLEMENTATION. Section 25B.7 shall not apply to 13 the amendment to section 427.1, subsection 21A, in this Act. >> 14 3. By renumbering as necessary. 15 ______________________________ HALL of Woodbury -2- H1445.2695 (2) 87 md/jh 2/ 2 #2. #3.