House File 2501 - Introduced



                                       HOUSE FILE       
                                       BY  STRUYK, HUSER,
                                           and McCARTHY


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

                                      A BILL FOR

  1 An Act relating to classification of apartment buildings for
  2    purposes of property taxation and including effective date and
  3    retroactive applicability date provisions.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 6068YH 81
  6 sc/sh/8

PAG LIN



  1  1    Section 1.  Section 441.21, Code Supplement 2005, is
  1  2 amended by adding the following new subsection:
  1  3    NEW SUBSECTION.  11A.  Beginning with valuations
  1  4 established on or after January 1, 2006, as used in this
  1  5 section, "residential property" includes property that is an
  1  6 apartment building.
  1  7    For purposes of this subsection, "apartment building" means
  1  8 the land and building used primarily for human habitation and
  1  9 containing three or more separate living quarters, as well as
  1 10 structures and improvements used primarily as a part of or in
  1 11 conjunction with such land and building.  "Apartment building"
  1 12 does not include a hotel, motel, inn, or other building where
  1 13 rooms are usually rented for less than one month, a nursing
  1 14 home, or a rest home.
  1 15    Sec. 2.  EFFECTIVE AND RETROACTIVE APPLICABILITY DATES.
  1 16 This Act, being deemed of immediate importance, takes effect
  1 17 upon enactment and applies retroactively to January 1, 2006,
  1 18 for assessment years beginning on or after that date.
  1 19                           EXPLANATION
  1 20    This bill provides that apartment buildings shall be
  1 21 assessed as residential property.  The bill defines "apartment
  1 22 building".
  1 23    The bill takes effect upon enactment and applies
  1 24 retroactively to January 1, 2006, for assessment years
  1 25 beginning on or after that date.
  1 26 LSB 6068YH 81
  1 27 sc:nh/sh/8