HF 2515 (LSB 6050YH (8) 83)

HOUSE FILE 2515

BY  T. OLSON

A BILL FOR

An Act authorizing modification of certain ordinances relating to the division of revenue from taxation in certain disaster-affected urban renewal areas and including effective date provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 403.19, subsection 1, Code 2009, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  d.  (1)  Notwithstanding paragraphs “a” and “b”, a municipality may amend an ordinance providing for a division of revenue under this section to identify the assessment roll as of January 1, 2009, as the assessment roll used to determine the portion of taxes under this subsection if the applicable urban renewal area contains property or real estate that was destroyed or damaged by a natural disaster during the period of time beginning May 1, 2008, and ending August 1, 2008, and the urban renewal area is located in an area that the governor proclaimed a disaster emergency or the president of the United States declared a major disaster as the result of the natural disaster.
   (2)  An amendment to an ordinance under subparagraph (1) shall not relieve, impair, or otherwise alter the obligations of a municipality relating to loans, moneys advanced, bonds issued, or contracts made in connection with the urban renewal area or any urban renewal project within the urban renewal area. An amendment to an ordinance under subparagraph (1) shall not affect any applicable duration limitation imposed on a division of revenue under this chapter.
    Sec. 2.  EFFECTIVE UPON ENACTMENT AND APPLICABILITY.  This Act, being deemed of immediate importance, takes effect upon enactment and applies to property taxes due and payable in fiscal years beginning on or after the effective date of this Act.
EXPLANATION
   This bill authorizes a municipality to amend an ordinance that provides for a division of revenue, under Code section 403.19, to identify the assessment roll as of January 1, 2009, as the assessment roll used to determine the amount of assessed valuation in the base year if the applicable urban renewal area contains property or real estate that was destroyed or damaged by a natural disaster during the period of time beginning May 1, 2008, and ending August 1, 2008, and the urban renewal area is located in an area that the governor proclaimed a disaster emergency or the president of the United States declared a major disaster as the result of the natural disaster.
   An amendment to an ordinance adopted under the bill does not relieve, impair, or otherwise alter the obligations of a municipality relating to loans, moneys advanced, bonds issued, or contracts made in connection with the applicable urban renewal area or any urban renewal project within the applicable urban renewal area. An amendment to an ordinance adopted under the bill also does not affect any applicable duration limitation imposed on a division of revenue under Code chapter 403.
   The bill takes effect upon enactment and applies to property taxes due and payable in fiscal years beginning on or after the effective date of the bill.