S.F. 2046 Section 1. Section 427.1, Code Supplement 2011, is amended 1 by adding the following new subsection: 2 NEW SUBSECTION . 38. Energy-efficient, sustainable 3 development, water saving, and environmental quality property. 4 a. For assessment years beginning on or after January 1, 5 2013, the exemption provided under this subsection for each 6 eligible property is limited to one of the following: 7 (1) Two percent of the amount of actual value of the 8 permanent improvements to the property if the property was 9 certified by the United States green building council during 10 the previous five years as meeting or exceeding the LEED silver 11 rating. 12 (2) Five percent of the amount of actual value of the 13 permanent improvements to the property if the property was 14 certified by the United States green building council during 15 the previous five years as meeting or exceeding the LEED gold 16 rating. 17 (3) Ten percent of the amount of actual value of the 18 permanent improvements to the property if the property was 19 certified by the United States green building council during 20 the previous five years as meeting or exceeding the LEED 21 platinum rating. 22 b. For the purposes of this subsection: 23 (1) “LEED silver rating” means the United States green 24 building council leadership in energy and environmental design 25 green building rating system, version 3.0, referred to as the 26 silver standard. 27 (2) “LEED gold rating” means the United States green 28 building council leadership in energy and environmental design 29 green building rating system, version 3.0, referred to as the 30 gold standard. 31 (3) “LEED platinum rating” means the United States green 32 building council leadership in energy and environmental design 33 green building rating system, version 3.0, referred to as the 34 platinum standard. 35 -1- LSB 5273XS (8) 84 md/sc 1/ 3

S.F. 2046 c. Each taxpayer claiming an exemption under this subsection 1 shall file with the assessor not later than February 1 of the 2 assessment year for which the exemption is first requested, 3 a statement upon forms to be prescribed by the director of 4 revenue specifying the applicable LEED rating that has been 5 certified for the property during the previous five years 6 by the United States green building council. The statement 7 shall be accompanied by other supporting documentation of the 8 certification as required by the department of revenue. 9 d. Once the exemption is granted, the exemption shall be 10 allowed for five assessment years without further filing so 11 long as the permanent improvements to the property continue to 12 meet the applicable LEED rating required for the exemption. 13 The taxpayer shall notify the assessing authority if during the 14 five-year exemption period, the property ceases to meet the 15 applicable LEED rating required for the exemption. 16 e. Following the expiration of the exemption under paragraph 17 “d” , the property shall not be eligible for an exemption under 18 this subsection in any future assessment year. 19 Sec. 2. IMPLEMENTATION. Section 25B.7 shall not apply to 20 this Act. 21 Sec. 3. APPLICABILITY. This Act applies to assessment years 22 beginning on or after January 1, 2013. 23 EXPLANATION 24 This bill establishes a property tax exemption for property 25 meeting specified energy efficiency and environmental quality 26 standards. For assessment years beginning on or after January 27 1, 2013, the exemption provided in the bill for each eligible 28 property is limited to one of the following: (1) 2 percent 29 of the amount of actual value of the permanent improvements 30 to the property if the property was certified by the United 31 States green building council during the previous five years 32 as meeting or exceeding the LEED silver rating, as defined 33 in the bill; (2) 5 percent of the amount of actual value of 34 the permanent improvements to the property if the property 35 -2- LSB 5273XS (8) 84 md/sc 2/ 3

S.F. 2046 was certified by the United States green building council 1 during the previous five years as meeting or exceeding the 2 LEED gold rating, as defined in the bill; and (3) 10 percent 3 of the amount of actual value of the permanent improvements 4 to the property if the property was certified by the United 5 States green building council during the previous five years 6 as meeting or exceeding the LEED platinum rating, as defined 7 in the bill. 8 The bill requires each taxpayer claiming an exemption 9 to file with the assessor not later than February 1 of the 10 assessment year for which the exemption is first requested, 11 a statement upon forms to be prescribed by the director of 12 revenue specifying the applicable LEED rating that has been 13 certified by the United States green building council during 14 the previous five years for the property. This statement must 15 also be accompanied by other supporting documentation of the 16 certification as required by the department of revenue. 17 If granted, the exemption continues for five assessment 18 years without further filing as long as the permanent 19 improvements to the property continue to meet the applicable 20 LEED rating required for the exemption. The taxpayer is 21 required to notify the assessing authority if during the 22 five-year exemption period, the property ceases to meet the 23 applicable LEED rating required for the exemption. 24 The bill provides that following expiration of the 25 exemption, the property is not eligible for the exemption under 26 the bill in any future assessment year. 27 The bill provides that the provisions in Code section 25B.7, 28 relating to the obligation of the state to reimburse local 29 jurisdictions for property tax credits and exemptions, do not 30 apply to the exemption in the bill. 31 The bill applies to assessment years beginning on or after 32 January 1, 2013. 33 -3- LSB 5273XS (8) 84 md/sc 3/ 3