H.F. 2168 Section 1. Section 427B.26, subsection 2, paragraph c, Code 1 2020, is amended to read as follows: 2 c. For the seventh and succeeding assessment years, at 3 thirty fifty percent of the net acquisition cost. 4 Sec. 2. APPLICABILITY. This Act applies to the valuation of 5 wind energy conversion property under city or county ordinances 6 adopted under section 427B.26 before, on, or after July 1, 7 2020, and is applicable to assessment years beginning on or 8 after January 1, 2021. 9 EXPLANATION 10 The inclusion of this explanation does not constitute agreement with 11 the explanation’s substance by the members of the general assembly. 12 Code section 427B.26 authorizes a city council or county 13 board of supervisors to provide by ordinance for the special 14 valuation of wind energy conversion property. The schedule 15 of assessment for wind energy conversion property that is 16 provided the special valuation under such an ordinance is as 17 follows: for the first assessment year, at 0 percent of the 18 net acquisition cost; for the second through sixth assessment 19 years, at a percent of the net acquisition cost which rate 20 increases by five percentage points each assessment year; and 21 for the seventh and succeeding assessment years, at 30 percent 22 of the net acquisition cost. 23 This bill increases the percentage of net acquisition cost 24 at which wind energy conversion property is assessed for the 25 seventh and succeeding assessment years from 30 percent to 50 26 percent. 27 The bill applies to the valuation of wind energy conversion 28 property under ordinances adopted under Code section 427B.26 29 before, on, or after the effective date of the bill and is 30 applicable to assessment years beginning on or after January 31 1, 2021. 32 -1- LSB 5858YH (3) 88 md/jh 1/ 1