Senate Study Bill 1066
SENATE FILE
BY (PROPOSED COMMITTEE ON
VETERANS AFFAIRS BILL
BY CHAIRPERSON BEALL)
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 effective and applicability date
3 provisions.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
5 TLSB 1276SC 83
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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 fiscal year immediately preceding
1 6 the first fiscal year in which the additional homestead credit
1 7 under this section is allowed on the disabled veteran's
1 8 homestead.
1 9 b. "Disabled veteran" means either of the following:
1 10 (1) A veteran who is entitled to compensation or who, but
1 11 for the receipt of military retirement pay, would be entitled
1 12 to compensation under laws administered by the secretary of
1 13 the United States department of veterans affairs.
1 14 (2) A person who was discharged or released from active
1 15 duty because of a service=connected disability.
1 16 2. A disabled veteran who is eligible for the credit
1 17 allowed under section 425.1 may claim an additional homestead
1 18 credit pursuant to this section. To claim the credit under
1 19 this section, the disabled veteran shall file on or before
1 20 June 30 of the base year for which the veteran is first
1 21 claiming the credit. The amount of the credit equals the
1 22 amount of property taxes, less the regular homestead credit
1 23 allowed under section 425.1, due and payable in the coming
1 24 fiscal year that exceeds the amount of property taxes, less
1 25 the regular homestead credit allowed under section 425.1, that
1 26 were due and payable in the base year. The credit under this
1 27 section is payable from the homestead credit fund created in
1 28 section 425.1.
1 29 3. Upon the filing and allowance of the claim, the claim
1 30 shall be allowed on the disabled veteran's homestead for
1 31 successive years without further filing as long as the
1 32 property is legally and equitably owned and used as a
1 33 homestead by the disabled veteran on July 1 of each of those
1 34 successive years. The credit allowed shall be continued to
1 35 the estate of the disabled veteran who is deceased or the
2 1 surviving spouse and any child, as defined in section 234.1,
2 2 who are the beneficiaries of the deceased, disabled veteran,
2 3 so long as the surviving spouse remains unmarried.
2 4 Sec. 2. EFFECTIVE DATE. This Act, being deemed of
2 5 immediate importance, takes effect upon enactment and applies
2 6 to property taxes due and payable in fiscal years beginning on
2 7 or after July 1, 2009.
2 8 EXPLANATION
2 9 This bill provides that the property tax on a disabled
2 10 veteran's homestead shall not increase from year to year. To
2 11 receive this credit, the veteran must file on or before June
2 12 30 in a manner similar to filing for the regular homestead
2 13 credit. Once the claim is filed and allowed, the veteran does
2 14 not have to file for successive years so long as the property
2 15 is still owned and used by the veteran as a homestead.
2 16 A disabled veteran is one who is entitled to compensation
2 17 for injuries from active duty or would have received
2 18 compensation but for retirement pay or is one who was
2 19 discharged or released from active duty because of a
2 20 service=connected disability.
2 21 The bill takes effect upon enactment and applies to
2 22 property taxes due and payable in fiscal years beginning on or
2 23 after July 1, 2009.
2 24 LSB 1276SC 83
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