Senate
File
103
-
Introduced
SENATE
FILE
103
BY
ANDERSON
A
BILL
FOR
An
Act
relating
to
the
disabled
veteran
homestead
tax
credit
by
1
modifying
eligibility
criteria
and
including
effective
date
2
and
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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103
Section
1.
Section
425.15,
subsection
1,
unnumbered
1
paragraph
1,
Code
2015,
is
amended
to
read
as
follows:
2
If
the
owner
of
a
homestead
allowed
a
credit
under
this
3
chapter
is
any
of
the
following,
the
credit
allowed
on
the
4
homestead
from
the
homestead
credit
fund
shall
be
the
entire
5
amount
a
percentage
of
the
tax
levied
on
the
homestead
that
is
6
equivalent
to
the
veteran’s
service-connected
disability
rating
7
percentage
:
8
Sec.
2.
Section
425.15,
subsection
1,
paragraphs
b
and
c,
9
Code
2015,
are
amended
to
read
as
follows:
10
b.
A
veteran
as
defined
in
section
35.1
with
a
11
service-connected
disability
rating
of
one
hundred
percent
,
as
12
certified
by
the
United
States
department
of
veterans
affairs.
13
c.
A
former
member
of
the
national
guard
of
any
state
14
who
otherwise
meets
the
service
requirements
of
section
35.1,
15
subsection
2
,
paragraph
“b”
,
subparagraph
(2)
or
(7),
with
a
16
service-connected
disability
rating
of
one
hundred
percent
,
as
17
certified
by
the
United
States
department
of
veterans
affairs.
18
Sec.
3.
Section
425.15,
subsection
3,
Code
2015,
is
amended
19
by
striking
the
subsection
and
inserting
in
lieu
thereof
the
20
following:
21
3.
If
a
veteran’s
service-connected
disability
rating
22
percentage
changes,
the
veteran
shall
provide
written
notice
to
23
the
assessor
by
July
1
following
the
date
on
which
the
rating
24
percentage
is
changed.
25
Sec.
4.
EFFECTIVE
UPON
ENACTMENT.
This
Act,
being
deemed
of
26
immediate
importance,
takes
effect
upon
enactment.
27
Sec.
5.
APPLICABILITY.
This
Act
applies
to
applications
for
28
the
homestead
credit
under
chapter
425
filed
on
or
after
the
29
effective
date
of
this
Act.
30
EXPLANATION
31
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
32
the
explanation’s
substance
by
the
members
of
the
general
assembly.
33
Current
Code
section
425.15
provides
a
homestead
credit
to
34
the
owner
of
a
homestead
for
the
full
amount
of
tax
levied
35
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103
if
the
owner
is
any
of
the
following:
(1)
a
veteran
of
any
1
of
the
military
forces
of
the
United
States
who
acquired
the
2
homestead
under
specified
federal
programs;
(2)
a
veteran
3
with
a
service-connected
disability
rating
of
100
percent;
4
(3)
a
former
member
of
the
national
guard
of
any
state
who
5
meets
specified
service
requirements
with
a
service-connected
6
disability
rating
of
100
percent;
or
(4)
an
individual
who
is
a
7
surviving
spouse
or
a
child
and
who
is
receiving
dependency
and
8
indemnity
compensation.
9
This
bill
modifies
the
eligibility
criteria
for
the
10
credit
by
removing
the
requirement
that
the
veteran’s
11
service-connected
disability
rating
be
100
percent
and
instead
12
provides
that
the
credit
allowed
on
the
homestead
shall
13
be
a
percentage
of
the
tax
levied
on
the
homestead
that
is
14
equivalent
to
the
veteran’s
service-connected
disability
rating
15
percentage.
16
The
bill
requires
a
veteran
receiving
the
credit
to
provide
17
written
notice
to
the
assessor
by
July
1
if
a
veteran’s
18
service-connected
disability
rating
percentage
changes.
19
The
bill
strikes
a
provision
that
makes
recipients
of
the
20
disabled
veteran
homestead
credit
ineligible
for
other
property
21
tax
exemptions
available
to
veterans.
22
The
bill
takes
effect
upon
enactment
and
applies
to
23
applications
for
the
homestead
credit
under
Code
chapter
425
24
filed
on
or
after
the
effective
date
of
the
bill.
25
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