House File 2283
HOUSE FILE
BY THOMAS
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the allowance of and reimbursement for the
2 elderly and disabled property tax credits and increasing
3 appropriations previously reduced and including an effective
4 date.
5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
6 TLSB 5943HH 80
7 mg/sh/8
PAG LIN
1 1 Section 1. ELDERLY AND DISABLED TAX CREDIT.
1 2 1. 2003 Iowa Acts, chapter 179, section 12, is repealed.
1 3 2. Additional funds available from the appropriation in
1 4 section 425.39, as a result of subsection 1, shall be used to
1 5 reimburse all counties for elderly and disabled tax credits
1 6 allowed pursuant to section 425.23. The department of revenue
1 7 shall determine an additional reimbursement percentage by
1 8 dividing the amount of additional funds available by the total
1 9 statewide claims reimbursed by the department.
1 10 3. The department shall reimburse to each county that
1 11 granted to the taxpayers the maximum allowable elderly and
1 12 disabled tax credit pursuant to section 425.23, the amount of
1 13 the additional reimbursement percentage for each credit
1 14 granted. Payments made pursuant to this subsection shall not
1 15 be made sooner than March 15, 2004.
1 16 4. Each county that did not grant the maximum elderly and
1 17 disabled tax credit allowed pursuant to section 425.23 to each
1 18 taxpayer shall grant a carryover elderly and disabled tax
1 19 credit. The carryover elderly and disabled tax credit shall
1 20 apply against taxes due and payable in the fiscal year
1 21 beginning July 1, 2004, to each property that was granted the
1 22 elderly and disabled tax credit for taxes due and payable in
1 23 the fiscal year beginning July 1, 2003. The carryover credit
1 24 shall be granted whether the property or taxpayer continues to
1 25 qualify for the elderly and disabled tax credit for taxes due
1 26 and payable in the fiscal year beginning July 1, 2004. The
1 27 amount of the carryover credit equals the additional
1 28 reimbursement percentage. A county granting the carryover tax
1 29 credit shall be reimbursed for the amount of the credit from
1 30 the elderly and disabled tax credit fund. Payments made
1 31 pursuant to this subsection shall be made one=half on November
1 32 15, 2004, and one=half on March 15, 2005.
1 33 Notwithstanding sections 8.33 and 425.39, any funds
1 34 remaining from the appropriation made in section 425.39 shall
1 35 not revert but shall be available for use as provided in this
2 1 subsection for the succeeding fiscal year.
2 2 Sec. 2. EFFECTIVE DATE. This Act, being deemed of
2 3 immediate importance, takes effect upon enactment.
2 4 EXPLANATION
2 5 As a result of legislation enacted in the 2003 regular
2 6 session, the elderly and disabled tax credits were not funded
2 7 at the level required by the Code. Counties were authorized
2 8 to reduce the amount of the credit based upon the amount of
2 9 reimbursement available. This bill provides for an increase
2 10 in appropriations so that these counties will receive
2 11 additional reimbursement otherwise specified in the Code for
2 12 fiscal year 2003=2004. The bill requires counties to grant a
2 13 carryover tax credit to be applied to taxes due and payable in
2 14 fiscal year 2004=2005 for an additional amount. The
2 15 additional amount of reimbursement or carryover credit is
2 16 based upon the increase in appropriation made as a result of
2 17 the bill.
2 18 The bill takes effect upon enactment.
2 19 LSB 5943HH 80
2 20 mg/sh/8