Senate File 2227 - Introduced
SENATE FILE
BY STEWART, BEALL, BOLKCOM,
RAGAN, DVORSKY, DANIELSON,
KREIMAN, HATCH, DOTZLER,
WARNSTADT, HORN, SENG, RIELLY,
HANCOCK, WOOD, SCHOENJAHN,
FRAISE, COURTNEY, QUIRMBACH,
BLACK, GRONSTAL, and KIBBIE
Passed Senate, Date Passed House, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the property taxes on the homestead of
2 disabled veterans and including an effective date.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 5988XS 81
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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 context
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 5988XS 81
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