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