House File 2026 - Introduced



                                       HOUSE FILE       
                                       BY  PAULSEN


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to the property tax exemption for certain
  2    dwelling units owned by a nonprofit organization and providing
  3    a retroactive applicability date.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 5062YH 81
  6 sc/je/5

PAG LIN



  1  1    Section 1.  Section 427.1, subsection 21A, Code Supplement
  1  2 2005, is amended to read as follows:
  1  3    21A.  DWELLING UNIT PROPERTY OWNED BY NONPROFIT
  1  4 ORGANIZATIONS.  Dwelling unit property owned and managed by a
  1  5 nonprofit organization if the nonprofit organization owns and
  1  6 manages more than forty dwelling units that are located in a
  1  7 city county with a population of more than one hundred ten
  1  8 eighty thousand but less than two hundred seventy=five
  1  9 thousand which has a public housing authority that does not
  1 10 own or manage housing stock for the purpose of low=rent
  1 11 housing.
  1 12    Sec. 2.  EFFECTIVE AND APPLICABILITY DATES.  This Act,
  1 13 being deemed of immediate importance, takes effect upon
  1 14 enactment and applies retroactively to assessment years
  1 15 beginning on or after January 1, 2005.
  1 16                           EXPLANATION
  1 17    Current law provides an exemption from property taxation
  1 18 for dwelling unit property owned by a nonprofit organization
  1 19 if the organization owns more than 40 dwelling units located
  1 20 in a city with a population of more than 110,000.  This bill
  1 21 changes the dwelling unit location requirement to a county
  1 22 with a population over 180,000 but less than 275,000.  The
  1 23 bill takes effect upon enactment and applies retroactively to
  1 24 assessment years beginning on or after January 1, 2005.
  1 25 LSB 5062YH 81
  1 26 sc:nh/je/5