Senate File 2038 - Introduced



                                       SENATE FILE       
                                       BY  LAMBERTI


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

                                      A BILL FOR

  1 An Act relating to an additional homestead credit for disabled
  2    veterans and including an effective date.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 5444XS 81
  5 mg/je/5

PAG LIN



  1  1    Section 1.  NEW SECTION.  425.15A  DISABLED VETERAN TAX
  1  2 FREEZE.
  1  3    1.  For purposes of this section, unless the contest
  1  4 otherwise requires:
  1  5    a.  "Base year" means the year immediately preceding the
  1  6 first year in which the additional homestead credit under this
  1  7 section is allowed on the disabled veteran's homestead.
  1  8    b.  "Disabled veteran" means either of the following:
  1  9    (1)  A veteran who is entitled to compensation or who, but
  1 10 for the receipt of military retired pay, would be entitled to
  1 11 compensation under laws administered by the secretary of the
  1 12 United States department of veterans affairs.
  1 13    (2)  A person who was discharged or released from active
  1 14 duty because of a service=connected disability.
  1 15    2.  A disabled veteran who is eligible for the credit
  1 16 allowed under section 425.1 may claim an additional homestead
  1 17 credit pursuant to this section.  To claim the credit under
  1 18 this section, the disabled veteran shall file by July 1 of the
  1 19 year for which the veteran is claiming the credit.  The amount
  1 20 of the credit equals the amount of property taxes, less the
  1 21 regular homestead credit allowed under section 425.1, levied
  1 22 in the coming fiscal year that exceeds the amount of property
  1 23 taxes, less the regular homestead credit allowed under section
  1 24 425.1, that were levied in the base year.  The credit under
  1 25 this section is payable from the homestead credit fund created
  1 26 in section 425.1.
  1 27    Upon the filing and allowance of the claim, the claim shall
  1 28 be allowed on the disabled veteran's homestead for successive
  1 29 years without further filing as long as the property is
  1 30 legally and equitably owned and used as a homestead by the
  1 31 disabled veteran on July 1 of each of those successive years.
  1 32    The credit allowed shall be continued to the estate of the
  1 33 disabled veteran who is deceased or the surviving spouse and
  1 34 any child, as defined in section 234.1, who are the
  1 35 beneficiaries of the deceased, disabled veteran, so long as
  2  1 the surviving spouse remains unmarried.
  2  2    Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of
  2  3 immediate importance, takes effect upon enactment.
  2  4                           EXPLANATION
  2  5    This bill provides that the property tax on a disabled
  2  6 veteran's homestead shall not increase from year to year.  To
  2  7 receive this credit, the veteran must file by July 1 similar
  2  8 to filing for the regular homestead credit.  Once the claim is
  2  9 filed and allowed, the veteran does not have to file for
  2 10 successive years so long as the property is still owned and
  2 11 used by the veteran as a homestead.
  2 12    A disabled veteran is one who is entitled to compensation
  2 13 for injuries from active duty or would have received
  2 14 compensation but for retirement or is one who was discharged
  2 15 or released from active duty because of a service=connected
  2 16 disability.
  2 17    The bill takes effect upon enactment.
  2 18 LSB 5444XS 81
  2 19 mg:rj/je/5