House File 2580 H-8403 Amend House File 2580 as follows: 1 1. Page 2, after line 24 by inserting: 2 < n. “Wind energy conversion property” means the same as 3 defined in section 427B.26. > 4 2. Page 9, after line 24 by inserting: 5 < 16. a. In addition to property taxes due and payable in 6 fiscal years beginning on or after July 1, 2027, a surcharge 7 is imposed on all wind energy conversion property valued under 8 section 427B.26 in an amount equal to the difference, but not 9 less than zero, between the following using the wind energy 10 conversion property’s net acquisition cost as the actual value 11 of the property: 12 (1) The amount of property taxes that would be due and 13 payable if the wind energy conversion property were assessed 14 as industrial property under section 441.21, subsection 5, 15 paragraph “c” , using the wind energy conversion property’s net 16 acquisition cost as the actual value of the property, and taxed 17 at the levy rates applicable to industrial property in the 18 taxing district where the property is located. 19 (2) The amount of property taxes due and payable on the wind 20 energy conversion property for the applicable fiscal year. 21 b. The surcharge imposed under this subsection shall 22 apply to all wind energy conversion property subject to 23 special valuation under section 427B.26, whether such property 24 commenced commercial operation before or after the effective 25 date of this Act. 26 c. The surcharge amount due under this subsection for each 27 fiscal year in which property taxes are due and payable on 28 the wind energy conversion property shall be calculated by 29 the county assessor of the county in which the wind energy 30 conversion property is located. 31 d. The surcharge imposed under this subsection shall 32 be assessed, billed, and collected by the county assessor 33 and county treasurer of the county in which the wind energy 34 conversion property is located, in the same manner and subject 35 -1- HF 2580.3464 (2) 91 sb/js 1/ 3 #1. #2.

to the same penalties, interest, and enforcement provisions 1 as property taxes imposed on wind energy conversion property 2 subject to special valuation under section 427B.26. 3 e. The proceeds of the surcharge imposed under this 4 subsection shall be distributed as follows: 5 (1) Fifty percent shall be apportioned and paid by the 6 county treasurer to the taxing authorities in the taxing 7 district where the wind energy conversion property is located 8 in the same proportions as property taxes due and payable 9 are imposed for the same fiscal year. Such amounts shall be 10 used by each recipient taxing authority to reduce the taxing 11 authority’s property tax dollars levied on all property in the 12 succeeding fiscal year. 13 (2) Fifty percent shall be remitted by the county treasurer 14 to the treasurer of state for deposit in the general fund of 15 the state. 16 f. The surcharge imposed under this subsection is in 17 addition to, and not in lieu of, any other tax, fee, or 18 financial obligation imposed on wind energy conversion property 19 or its owner or operator under any other provision of law. 20 Payment of the surcharge shall not be credited against, or 21 otherwise reduce, any other tax or financial obligation of the 22 wind energy conversion property owner or operator. 23 g. The department of revenue shall, by January 1, 2028, 24 and January 1 of each year thereafter, prepare and submit to 25 the general assembly a report detailing, for the most recently 26 completed fiscal year, the total amount of surcharges collected 27 statewide; the amount distributed to each taxing authority in 28 each county; the amount remitted to the general fund; and the 29 estimated reduction in property tax levies achieved in each 30 taxing district as the result of the surcharge. > 31 3. By renumbering, redesignating, and correcting internal 32 references as necessary. 33 -2- HF 2580.3464 (2) 91 sb/js 2/ 3