House File 2515 - Introduced HOUSE FILE 2515 BY T. OLSON A BILL FOR An Act authorizing modification of certain ordinances relating 1 to the division of revenue from taxation in certain 2 disaster-affected urban renewal areas and including 3 effective date provisions. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 6050YH (8) 83 md/sc

H.F. 2515 Section 1. Section 403.19, subsection 1, Code 2009, is 1 amended by adding the following new paragraph: 2 NEW PARAGRAPH . d. (1) Notwithstanding paragraphs “a” 3 and “b” , a municipality may amend an ordinance providing 4 for a division of revenue under this section to identify the 5 assessment roll as of January 1, 2009, as the assessment roll 6 used to determine the portion of taxes under this subsection 7 if the applicable urban renewal area contains property or real 8 estate that was destroyed or damaged by a natural disaster 9 during the period of time beginning May 1, 2008, and ending 10 August 1, 2008, and the urban renewal area is located in an 11 area that the governor proclaimed a disaster emergency or the 12 president of the United States declared a major disaster as the 13 result of the natural disaster. 14 (2) An amendment to an ordinance under subparagraph (1) 15 shall not relieve, impair, or otherwise alter the obligations 16 of a municipality relating to loans, moneys advanced, bonds 17 issued, or contracts made in connection with the urban renewal 18 area or any urban renewal project within the urban renewal 19 area. An amendment to an ordinance under subparagraph (1) 20 shall not affect any applicable duration limitation imposed on 21 a division of revenue under this chapter. 22 Sec. 2. EFFECTIVE UPON ENACTMENT AND APPLICABILITY. This 23 Act, being deemed of immediate importance, takes effect upon 24 enactment and applies to property taxes due and payable in 25 fiscal years beginning on or after the effective date of this 26 Act. 27 EXPLANATION 28 This bill authorizes a municipality to amend an ordinance 29 that provides for a division of revenue, under Code section 30 403.19, to identify the assessment roll as of January 1, 2009, 31 as the assessment roll used to determine the amount of assessed 32 valuation in the base year if the applicable urban renewal area 33 contains property or real estate that was destroyed or damaged 34 by a natural disaster during the period of time beginning May 35 -1- LSB 6050YH (8) 83 md/sc 1/ 2

H.F. 2515 1, 2008, and ending August 1, 2008, and the urban renewal area 1 is located in an area that the governor proclaimed a disaster 2 emergency or the president of the United States declared a 3 major disaster as the result of the natural disaster. 4 An amendment to an ordinance adopted under the bill does 5 not relieve, impair, or otherwise alter the obligations of a 6 municipality relating to loans, moneys advanced, bonds issued, 7 or contracts made in connection with the applicable urban 8 renewal area or any urban renewal project within the applicable 9 urban renewal area. An amendment to an ordinance adopted 10 under the bill also does not affect any applicable duration 11 limitation imposed on a division of revenue under Code chapter 12 403. 13 The bill takes effect upon enactment and applies to property 14 taxes due and payable in fiscal years beginning on or after the 15 effective date of the bill. 16 -2- LSB 6050YH (8) 83 md/sc 2/ 2