Senate File 2399 - Introduced



                                       SENATE FILE       
                                       BY  COMMITTEE ON WAYS AND MEANS

                                       (SUCCESSOR TO SF 2075)
                                       (SUCCESSOR TO SSB 3004)


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

                                      A BILL FOR

  1 An Act relating to the eligibility requirements for the barn
  2    preservation property tax exemption.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 5142SZ 82
  5 md/rj/5

PAG LIN



  1  1    Section 1.  Section 427.1, subsection 31, unnumbered
  1  2 paragraphs 1 and 2, Code Supplement 2007, are amended to read
  1  3 as follows:
  1  4    The increase in assessed value added to a farm structure
  1  5 constructed prior to 1937 as a result of improvements made to
  1  6 the farm structure for purposes of preserving the integrity of
  1  7 the internal and external features of the structure as a barn
  1  8 is exempt from taxation.  To be eligible for the exemption,
  1  9 the structure must have been first placed in service as a barn
  1 10 prior to 1937 fifty or more years before the date the
  1 11 exemption application is filed with the assessing authority.
  1 12 The exemption shall apply to the assessment year beginning
  1 13 after the completion of the improvements to preserve the
  1 14 structure as a barn.
  1 15    For purposes of this subsection, "barn" means an
  1 16 agricultural structure, in whatever shape or design, which is
  1 17 used for the storage of farm products or feed or for the
  1 18 housing of farm animals, poultry, or farm equipment.  "Barn"
  1 19 does not include a pole barn.
  1 20                           EXPLANATION
  1 21    The Iowa barn preservation tax exemption makes any increase
  1 22 in assessed value to a barn as a result of improvements made
  1 23 for the purposes of preserving the integrity of the internal
  1 24 and external features of the structure as a barn exempt from
  1 25 taxation.  Under the current exemption, only barns put into
  1 26 service prior to 1937 are eligible for the exemption.
  1 27    This bill removes the requirement that the barn must have
  1 28 been put into service prior to 1937 and makes the exemption
  1 29 available to barns that are 50 or more years old.  To be
  1 30 eligible for the exemption, the barn must have been placed
  1 31 into service 50 or more years before the date the exemption
  1 32 application is filed with the assessing authority.  The bill
  1 33 also makes pole barns ineligible for the exemption.
  1 34 LSB 5142SZ 82
  1 35 md/rj/5