House File 2084 - Introduced HOUSE FILE BY HEATON Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act requiring a seller of property to provide the buyer with a 2 statement regarding property tax credits. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5065YH 81 5 sc/sh/8 PAG LIN 1 1 Section 1. NEW SECTION. 558.72 STATEMENT REGARDING 1 2 PROPERTY TAX CREDITS. 1 3 At the time the instrument transferring title to property 1 4 is delivered to the buyer of the property, the seller or the 1 5 seller's agent shall also provide the buyer of the property 1 6 with a statement informing the buyer that the buyer may be 1 7 eligible for one or more property tax credits. The statement 1 8 shall further inform the buyer of the filing deadlines for the 1 9 different property tax credits and shall direct the buyer to 1 10 the appropriate county official from whom application forms 1 11 for the credits may be obtained. For purposes of this 1 12 section, "property tax credit" includes the homestead tax 1 13 credit and extraordinary tax credit provided in chapter 425, 1 14 the family farm tax credit provided in chapter 425A, the 1 15 agricultural land tax credit provided in chapter 426, and the 1 16 military service exemption and credit provided in chapter 1 17 426A. 1 18 EXPLANATION 1 19 This bill requires the seller of property, or the seller's 1 20 agent, to provide the buyer with a statement regarding 1 21 property tax credits the buyer may be eligible to receive, the 1 22 deadlines for applying for such credits, and the county 1 23 official from whom applications for the credits may be 1 24 obtained. The statement is to be provided at the time the 1 25 instrument transferring title to the property is delivered to 1 26 the buyer of the property. 1 27 LSB 5065YH 81 1 28 sc:nh/sh/8